Peloton's leadership change is not enough, says one investor. A sale is still the best option.
blaming Peloton's underperformance on being "horribly mismanaged" due to Foley's "unbridled enthusiasm taking the place of disciplined leadership." They argue Foley's leadership has resulted in poor decision-making and capital allocation, bloated costs, a lack of financial discipline, misaligned interests and a loss of credibility with employees, investors and analysts.
Last month, Blackwells sent a letter to Peloton's board of directors urging them to fire Foley and consider selling the company. It noted at the time that Peloton and its customer base would be extremely attractive to any number of technology, streaming, metaverse and sportswear companies, listing possible suitors, including Apple, Disney, Sony and Nike.
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