# Scott Watterson

> Scott R. Watterson is the American co-founder and chairman of iFIT, the Logan, Utah company behind NordicTrack and ProForm. He co-founded predecessor Weslo with Gary Stevenson in 1977 while studying at Utah State University, graduated in 1979, and helped move the business from imports into exercise equipment and connected training. He stepped down as CEO in February 2022, with an announced focus on advanced product development as chairman.

- **Role:** Co-founder and Chairman of the Board at iFIT
- **Organizations:** iFIT, ICON Health & Fitness, Weslo, Utah State University, Utah State University Foundation, Make-A-Wish Foundation of Utah, Utah Foundation
- **Nationality:** American
- **Education:** Bachelor of Science; graduated cum laude, Utah State University, College of Business
- **Known for:** Co-founded the predecessor of iFIT in 1977., Utah State University Professional Achievement Award, 1988., Utah State University Distinguished Executive Alumnus Award, May 24, 1995.

## Career timeline

- **1977** — Co-founded Weslo with Gary Stevenson while both were Utah State University business students.
- **1979** — Graduated from Utah State University College of Business.
- **1987** — Weslo acquired ProForm Fitness, according to iFIT’s 2021 SEC filing.
- **1988** — Began serving as chairman; the company’s official biography dates his chairmanship to this year.
- **1994** — The predecessor businesses were sold to Bain Capital and renamed ICON Health & Fitness.
- **1998** — ICON agreed to a $9.5 million purchase of key NordicTrack patents, trademarks and other intellectual property in December.
- **2000** — ICON demonstrated internet-, CD- and video-controlled iFit.com equipment at Super Show in Atlanta.
- **2004–2007** — Took a leave of absence as a church mission president in Taiwan while continuing to serve on the board.
- **2020** — ICON announced a $200 million growth investment led by L Catterton, joined by Pamplona Capital Management.
- **2021** — ICON announced the iFIT corporate name in June; iFIT pursued a public offering, postponed that October.
- **2022** — Stepped down as CEO in February while remaining chairman. iFIT withdrew its IPO in April and appointed Kevin Duffy CEO in October.

## Achievements

- Co-founded the predecessor of iFIT in 1977.
- Utah State University Professional Achievement Award, 1988.
- Utah State University Distinguished Executive Alumnus Award, May 24, 1995.
- MountainWest Capital Network Entrepreneur of the Year, jointly with Gary Stevenson, 1999.
- Led a business that combined NordicTrack and ProForm equipment with interactive training software and content.

## Latest updates

- **2026-03** — Forbes’s annual billionaire profile estimated his net worth at $1 billion as of March 10, 2026.
- **2025-12** — A December 30 Forbes feature described Watterson as chairman and Kevin Duffy as CEO.
- **2022-02** — Announced his transition out of the CEO role and a personal investment alongside L Catterton in iFIT’s $355 million capital raise.

## Links

- Website: https://www3.ifit.com/about/leadership/scott-watterson

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Profile page: https://yespress.io/scott-watterson
Published by YesPress — https://yespress.io
Last updated: 2026-10-21