An activist is pushing Peloton to fire its chief executive officer and consider a sale as its share price has plummeted, according to a person familiar.
An activist is pushing Peloton to fire its chief executive officer and consider a sale as its share price has plummeted, according to a person familiar with the matter.
Blackwells Capital, which has a stake of less than 5% in Peloton, believes Peloton could be an attractive acquisition target for larger technology or fitness-oriented companies, the person said. To be sure, Foley and other insiders have super-voting Class B shares, which gave them control over 80% of Peloton's voting power as of Sept. 30, according to a proxy filing.to fire its chief executive officer and consider a sale as its share price has plummeted, according to a person familiar with the matter.
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