SAN LUIS OBISPO, Calif. - The CEO of Mindbody, a health and wellness tech company headquartered in San Luis Obispo, is stepping down and transitioning to a new role, the company said.
Rick Stollmeyer, the company's cofounder, will be transitioning from CEO to executive chair.
The company's board of directors voted unanimously to appoint current president Josh McCarter as the new CEO beginning in August.
McCarter previously served as CEO of Booker Software, a cloud-based spa and salon business management company that Mindbody acquired in 2018. McCarter also co-founded the company. Since the acquisition, he has served as Mindbody's chief strategy officer and was promoted to president the following year.
“I’m excited to begin the next chapter of my journey here at Mindbody,” said McCarter in a press release issued by the company. “Rick has built something truly special and I think I speak for everyone at the company when I thank him for his exceptional leadership and vision. The team Rick has assembled is unmatched in this industry and will be key to our success as we continue to evolve the brand. As executive chair, Rick will continue to provide invaluable guidance as we work to enable our customers’ success.”
Stollmeyer co-founded Mindbody in his garage in 2001 and helped the company grow into a well-known name in the industry. It currently has tens of thousands of clients and in 2019 was acquired by Vista Equity Partners.
“Mindbody has been my career and singular passion for more than two decades, and I am most proud of the entrepreneurs we have helped and the jobs we have created,” Stollmeyer said. “It has been an exciting 20 years, but these are still the early innings for Mindbody and the wellness industry. Enormous growth opportunities lie ahead and those are made even more important and compelling by COVID-19."
Earlier this year, Mindbody announced layoffs and furloughs were planned due to COVID-19.
Mindbody has offices in Australia, India, and the U.K. in addition to its company headquarters in San Luis Obispo and a location in Santa Maria. About 300 members of the local workforce were affected by the cutbacks.