Appointment of Non-Executive Director

29 February 2016

Copronet is pleased to announce that it has appointed Mike Balfour OBE to the role of Non-Executive Director of the Company.

As the founder of Fitness First, the world’s largest health club chain, Mike brings to Copronet extensive experience and credibility, and will assist the team with developing the Company’s corporate strategy.


Mike founded Fitness First in 1992 and led the business until 2011. He has since become Chairman of Bucket List Film, a bespoke film company specialising in personal and corporate legacy films, and is Executive Chairman of Pure Jatomi Fitness, a chain operating fitness health clubs in emerging markets. He is also Chairman of The Hideaways Club.

Mike’s business accolades include an OBE for Services to Business, and a Lifetime Achievement Award by the American Fitness Industry. He was also named Entrepreneur of the Year in 1999 and 2001 by leading consulting groups PwC and Ernst & Young.

Commenting on his appointment, Mike Balfour said: “Having taken Fitness First from embryonic stage to a global business, construction is an industry that I have invested a huge amount of money in. I understand that the capital invested in property, whether fitting out a shop or building a health club, is likely to be one of the most significant cash outlays. Getting capital expenditure right is critical, but can be daunting, because for most business people it is not their core expertise.”

“As a CEO, no matter what size your business is, you want to be certain that you are finding the best team and the best solution at the best price. I only wish Copronet had been around 20 years ago to support my business needs.”

David Stapleton, Chief Executive of Copronet, added: ”With today’s appointment of Mike Balfour, coupled with Mike Jeffries joining as Non-Executive Chairman, Copronet hits the market with a first class and complementary Board.”

“We look forward to working closely with Mike, who is a highly respected and acclaimed business figure. He brings a wealth of experience in business management, and is a champion of innovative platforms like Copronet. He will undoubtedly provide invaluable support and guidance to the business.”

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