Peloton is replacing its CEO and cutting 2,800 jobs

Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become its CEO and president of Peloton's board, effective Tuesday. Foley will become the company's executive chair, and wrote in a public note that the appointment is the"culmination of a months-long succession plan" he's been working on with the board. The Wall Street Journal first reported the news.

Amazon and Nike are exploring bids for Peloton, report saysThese changes indicate that Peloton wants to remain independent, rather than selling itself to a suitor — at least for now. Shares had gained 20% Monday following reports that Amazon and Nike were exploring bids for the company and Wall Street chatter that Apple may be a potential suitor as well. Peloton's shares have plunged more than 80% from their high in January 2021.

Outsourcing network and IT staff..

CNN is FAKE NEWS!!!!!!

?

They are doing it because they are making themselves more attractive for a sale.

They enjoyed a good ride PunIntended

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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. Who would have thought there was a ceiling on people buying exercise bikes. Someone buy this company already
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