Bally Total Fitness (NYSE: BFT) announced the resignation, effective immediately, of Paul A. Toback as Chairman, President and CEO. The Company said that Don R. Kornstein has been appointed interim Chairman, and Barry R. Elson has been appointed acting CEO.
The CEO chair continues to swivel around too quickly. You cannot replace CEOs every twelve months! I blame the Board and the selection process.
BFT 1-yr chart: