ONE of the two co-founders of upmarket sports fitness clothing brand Gymshark is to quit the day to day running of the Bromsgrove-based company.

Lewis Morgan is to resign as a company director and the three remaining directors will be Ben Francis, Steve Hewitt and Paul Richardson.

A company statement said: "Lewis wants to pursue other opportunities outside of the successful global Gymshark business. The re-structure has enabled Lewis to sell more than 50 per cent of his shares so that he can fund his new interests. These shares were purchased by the new holding company."

Mr Francis added: "Lewis and I had a lot of fun building Gymshark and I’m proud of the success we’ve achieved. I wish him every success in his future ventures and can’t wait to start the next exciting chapter in Gymshark’s story with a great new team around me. The new team members are very capable, experienced and highly professional, which is what’s needed to take the Gymshark brand to the next level.”

Gymshark is an online sports apparel and accessories brand which was set up by two university students in 2012. Last year it was the fastest growing online apparel brand in the fitness aesthetic market in the world and now sells in 131 countries.

The company's revised structure will see Mr Francis becoming the majority shareholder of a new holding company, Clade Group Ltd, with the remaining shares split between Steve Hewitt, Paul Richardson and Lewis Morgan, who will become the second largest shareholder with 20 per cent.

The board of directors for Clade Group Ltd will be Ben Francis, Steve Hewitt and Paul Richardson with Lewis Morgan becoming joint company secretary along with Gateley Plc.