Dave Wright has stepped down as Group CEO of Myzone, the fitness technology business he founded in 2011, citing family commitments and work/life balance.

The change, effective immediately, will see current Myzone EMEA CEO, Dave Stalker, stepping into the top role. Stalker is also president of Europe Active.

As a majority shareholder, Wright will remain involved in the business, “focusing on strategy, global initiatives, industry partnerships and product innovation”.

“I’ve always loved meeting new people and networking within the industry,” he explains. “As founder, I’ll continue to do this, beating the drum of a platform that genuinely changes lives. I’m excited to work with David Stalker and the team to continue to have a worldwide impact on positive exercise habits.”

Commenting, Stalker said: “Dave’s entrepreneurial passion in driving the growth of Myzone has been phenomenal and I really look forward to continuing working with him in his new role.

“Moving forward, I’m excited to have the opportunity to scale the business, supported by Dave Wright and surrounded by an incredible team,” Stalker continued. “Together, we’ll innovate and execute in bringing heart rate training, health, and wellbeing to the next level of visibility and adoption.”

Myzone is on a growth curve with aspirations to achieve unicorn status and to do an IPO since it took on investment from BGF of £17.2m to drive growth.

Myzone is currently sold in 64 countries around the world.