Planet Fitness stock plunges as CEO abruptly steps down, surprising Wall Street

Yet another CEO turnover.

On Friday, Planet Fitness’s (PLNT) board announced the decision to “transition to new leadership,” resulting in the departure of 30-year company veteran and CEO Chris Rondeau.

“As we enter the next chapter of Planet Fitness’ journey, the Board felt that now was the right time to transition leadership,” Stephen Spinelli, Jr., the board’s chairman, said in the release.

As the company looks for new leadership, six-year board member Craig Benson was named interim CEO,…