Barry McCarthy, who served as CFO at Spotify as well as at Netflix, will take over the CEO position held by John Foley. McCarthy will also have a seat on the board.
Foley will become Peloton's executive chair. William Lynch, who currently serves as president, will leave that role and become a non-executive director. The company also announced that it was cutting 2,800 jobs globally, including a 20% cut to at corporate offices.
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