Tough Mudder's Will Dean To Exit Day-To-Day Management
Tough Mudder co-Founder & CEO WILL DEAN intends to step down from a day-to-day management position of the company for a Chair-style role in the coming months. Dean acknowledged '18 has seen a “choppy couple of months” for the company, which burst onto the scene in the early '10s as the obstacle course racing fad peaked. Tough Mudder and Spartan Race both survived the ensuing contraction to continue on as national brands, but they have been forced to diversify their revenue streams as participation stagnates domestically. Tough Mudder this year has downsized, and one race winner, MARK JONES, said last month he had yet to be paid prize money from a third-place finish in June. Dean was a member of the SBJ/SBD Forty Under 40 class of '17. Meanwhile, the company has sold 60 franchises for its Tough Mudder-themed fitness bootcamps it launched in '17 and is looking to spin off its line of boutique gym franchises and seek a major investor or buyer for the new company.