VASA Fitness Names Michael Osanloo Chief Executive Officer

Rich Nelsen Retires After Eight Years; Seasoned Consumer Brand Executive to Lead Next Phase of Growth

GREENWOOD VILLAGE, Colo., March 31, 2026 /PRNewswire/ -- VASA Fitness, a leading high-value, low-price (HVLP) fitness brand, today announced that Michael Osanloo has joined the company as Chief Executive Officer, succeeding current CEO Rich Nelsen, who is retiring after eight years of leadership.

Michael is a proven leader with deep experience building and scaling consumer brands, leading high-performing teams, and delivering exceptional customer experiences. Most recently, he served as President and CEO of Portillo's, where he led the company through significant growth, including expansion into new markets and a successful public offering in 2021. Prior to that, he was CEO of P.F. Chang's, overseeing a global business with more than 300 locations and expanding the brand internationally. Earlier in his career, Michael held senior leadership roles at Kraft Heinz and Caesars Entertainment and spent nearly a decade as a Partner at Bain & Company, advising companies on strategy, operations, and growth.

"Michael is a highly accomplished operator with a track record of scaling category-defining consumer brands and delivering sustained, profitable growth," said Dan Gill, Managing Partner at Silver Oak Services Partners. "He brings a unique combination of strategic rigor, operational excellence, and a deep commitment to people and culture. We are confident in his ability to build on VASA's strong momentum, accelerate our growth, and further strengthen our position as a leader in the fitness industry."

Michael is widely recognized for his hands-on leadership approach and commitment to understanding how businesses operate at every level. He brings a focus on team culture, operational excellence, and delivering value to customers. These principles align closely with VASA's mission to create inclusive, high-value fitness experiences for its members.

"I'm honored to join VASA at such an exciting time in its journey," said Michael Osanloo. "Rich has built a strong foundation, and I have great respect for what he and the team have accomplished. VASA is a truly differentiated brand in a dynamic and growing industry, and I'm excited to work alongside the team to build on that momentum and lead the company into its next phase of growth."

Rich is retiring after eight years as CEO. Under his leadership, VASA Fitness experienced significant and sustained growth, scaling the company's footprint from 26 clubs to 71. He also led the development and rollout of VASA's boutique-style studio concepts—STUDIO RED, STUDIO FLOW, and STUDIO LFT—further strengthening the company's differentiated model. During this period, VASA grew to more than 5,200 employees and earned Great Place to Work^® certification for three consecutive years. This strong foundation positions the company well for its next phase of growth under Michael's leadership.

VASA Fitness is one of the nation's largest HVLP fitness operators, offering a differentiated "mall of fitness" model that combines premium amenities, strength-focused programming, and welcoming community environments. For more information, visit https://vasafitness.com.

About VASA Fitness
VASA Fitness is a high-value, low-price operator of fitness clubs and one of the top 20 largest health club operators in the U.S. VASA's mission is to uplift everyone through fun, innovative, and affordable fitness. With 70+ operating locations across Colorado, Utah, Oklahoma, Arizona, Illinois, Indiana, Wisconsin, and Nebraska, VASA delivers an unmatched value proposition, offering full-service fitness experiences for as low as $14.99/month. Members enjoy top-of-the-line equipment, boutique-style STUDIO classes, expert personal training, and on-trend recovery experiences — all within a welcoming, inclusive community. VASA has been certified as a Great Place to Work^® for four consecutive years and is headquartered in Greenwood Village, Colorado.

Media Contact:
Alexis McDowel for VASA Fitness
[email protected]

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SOURCE VASA Fitness