Tobi Pearce steps down as chief executive of $400 million Sweat fitness empire

Tobi Pearce is walking away from the Sweat business empire he founded with his ex-fiancée Kayla Itsines.

The 29-year-old had served as CEO of the brand since he and his ex-fiancée sold the business last July, according to the Adelaide Advertiser.

Pearce called founding the popular fitness app Sweat, which was sold for $400 million to an American software company last year, a “life-changing experience.”

The billionaire will remain as an adviser to the company, but added that he is “open to all opportunities in the future.”

“I’m also excited to spend more time with those close to me and dear to me, and that includes my daughter Arna first and foremost.”

He shares his two-year-old daughter with Itsines, 30, from whom he separated in August 2020.

Moving on: The 29-year-old had served as the brand’s CEO since he and his ex-fiancée sold the business last July, according to the Adelaide Advertiser. Seen here with his new girlfriend Rachel Dillon

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Last July, The Australian reported that the former couple enjoyed a ’50-50 split of the proceeds’ from Sweat’s $400 million sale.

The former couple, who had been together for eight years, co-founded the Bikini Body Training Company, later renamed Sweat, after meeting in late 2012.

The business partners sold their health and fitness empire to US software giant iFIT Health & Fitness Inc for $400 million, The Courier Mail reported.

In 2020, the Sweat app generated a staggering $99.5 million in revenue, with the majority of sales coming from the US market.

New role: The billionaire will remain as an adviser to the company, but added that he is ‘open to all opportunities in the future’

Pearce went Instagram official with his new girlfriend Rachel Dillon, 28, last month.

Tobi shared a gallery of loving photos of the couple and told his 158,000 followers that he had found “happiness” with Rachel.

‘Happiness. Glad I ran into you @RacheljDillon,’ she wrote.

Meanwhile, Itsines recently debuted her new boyfriend, Jai Woodroffe, on social media.

Case of the ex: Itsines, for her part, recently debuted her new boyfriend Jai Woodroffe on social networks. both in the photo