From the blog:
"Lauren Jenai Glassman's response
To the Affiliates of CrossFit, Inc.,
It was over two and a half years ago that I filed for divorce. When I first filed, I had hoped that, despite the pending divorce, I could continue to work alongside Greg.
Greg and I created CrossFit from its infancy. We are equal co-owners of the stock. We ran the company together. I felt and still feel I have a lot to offer CrossFit, but Greg made it clear that, with the divorce, he no longer wanted my involvement. I approached several alternatives for CrossFit, as it has long been my contention that CrossFit is in need of more professional management, corporate structure and accountability. I have heard from many of you that you feel the same.
About three months ago, I learned that there was interest from an outside party to purchase my 50% interest in CrossFit. While the thought of a clean buy-out, without leveraging the company was very intriguing to me, I wanted to make sure that the new-co-owner would not only pay me a fair price but was the right fit for the company and its affiliates. After meeting with the principals of Anthos Capital, I am confident that Anthos is the right choice for both of those reasons.
Contrary to what I have read on the CrossFit blog, I am not selling control of the company to Anthos. I don’t have control to sell. Anthos will be co-equal owners with Greg, just as I am.
Additionally, Anthos has emphatically told me, after reading the most recent postings on the blog that they will not “force all CrossFit affiliates to morph from professional training facilities into supplement and equipment peddlers.” Nor will affiliates report to “a domineering bureaucracy that seeks to extract maximal profit while micro-managing every significant facet of their business.” If you go to their website, you will see that Anthos clearly states that they take a hands-off approach with companies they invest in. They have also told me their intent is to continue to have Greg run the company.
Greg and I started and then grew CrossFit together, making a lot of sacrifices to get the company to where it is today. I know and recognize that our affiliates worked very hard and made many sacrifices themselves and that their efforts contributed to our growth. It is my hope that everyone understands that I did not come to this decision lightly. I came to this decision after reviewing several options and considering what is in the best interests for all.
Sincerely,
Lauren Jenai Glassman"
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