HEALTH and fitness group Leisurenet Ltd is considering an offshore listing and has made some management shifts in anticipation of the move. Peter Gardener and Rod Mitchell, the founders of its Health and Racquet operations, will step down as joint chief executive officers of the group and will take direct charge of its Heartland subsidiaries as its joint CEOs. The statement said they will remain on the board of the group. The group now operates 23 Heartland clubs in the UK, Spain and Australia and expected the number to rise to 38 by the end of the year. ”It is abundantly clear that the major portion of the earnings of LeisureNet should be generated offshore,” said chairman Joe Pamensky. The statement did not say where the company would seek its offshore listing. – Reuters