Budget operator Xercise4Less has named fitness industry veteran Peter Wright as its new CEO.

Wright – who replaces the outgoing Simon Tutt – joins Xercise4Less from Turkish health club chain Mars Sportif, where, since 2013, he has helped to grow the business from six to 86 clubs.

During his 25-year career in fitness, Wright has also held the roles of CEO of Body Masters fitness chain in Saudi Arabia and COO at Virgin Active.

“Peter joins at a very exciting time and I’m fully confident he can take Xercise4Less to the next level of growth and deliver on our aggressive expansion plans," said Jon Wright, Xercise4Less founder.

Xercise4Less currently operates 52 clubs nationwide and is in the midst of an expansion push which will see it open up to 10 gyms by the end of 2018 and a further 40 over the following two years.

Earlier this year, the company secured growth investment worth £42m from Swedish credit provider Proventus Capital Partners and set itself a target of having 100 clubs in the UK by the end of 2020.