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Peloton CEO Barry McCarthy steps down, company cuts 15% of staff

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Fitness News

Peloton Technology

The connected fitness company will also cut 15% of its workforce.

Share on linkedin Peloton Interactive said CEO Barry McCarthy will step down from his role as the connected fitness company works to turn itself around.The struggling company, whose shares are down around 90% from their 2020 peak, is searching for a replacement and slashing 15% of its workforce.Peloton's first CEO after co-founder Jon Foley stepped down from the role, McCarthy joined in 2022 to rejuvenate the business following previous posts at Spotify and Netflix.

Editor's note: This story has been amended to add information about when McCarthy joined the company.Share on linkedin

 

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Peloton CEO Barry McCarthy to step down, company to lay off 15% of staffPeloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.
Source: CNBC - 🏆 12. / 72 Read more »