Here’s what to know about Peloton as co-founder John Foley steps down as Chief Executive and Bary McCarthy steps in
has gone from a pandemic darling
to a company that has changed its chief executive and is cutting roughly 20% of its corporate positions. The maker of exercise equipment that pairs with virtual classes saw demand surge during the early months of the pandemic as homebound customers ordered its products. The popularity of the company and its equipment helped to lift Peloton’s market value to more than $50 billion.
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The Morning After: What's going to happen to Peloton? | Engadget
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Peloton CEO Will Reportedly Step Down As Company Prepares To Overhaul Board And Cut CostsJohn Foley will reportedly step down as Peloton CEO and be replaced by former Spotify and Netflix CFO Barry McCarthy.
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Peloton CEO John Foley to Step Down, Transition to Executive Chair as Company Cuts 2,800 Jobs, Says ReportThe news of CEO John Foley stepping down comes ahead of Peloton’s fiscal second-quarter results, which are set to come after the market closes on Tuesday.
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