India’s Wellnes Giant Talwalkars’ Executive Chairman Quits

Madhukar Talwalkar, executive chairman of Talwalkars Better Value Fitness Ltd, one of the leading health club chains in India, has quit the company on Monday. However, the 80-year-old Talwalkar will continue to serve as one of members of the Board of Directors.

“Yes, he resigned due to his advancing age. But he (Madhukar) will be very much a part of the Board,” said a senior official, familiar with the development, on the condition of anonymity.

Madhukar took charge of Talwalkar Better at a tender age of 22. The company was launched in 1932 by well known Indian wrestler Vishnu Talwalkar, who opened the first gym in Mumbai.

Currently, the company is present across 70 cities, and has more than 130 health clubs and fitness centres with over 1,25,000 members.