Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company

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Cortese will be replaced by Silicon Valley veteran Nick Caldwell, who previously held positions at Twitter, Google and Microsoft.

He'll be replaced by Silicon Valley veteran Nick Caldwell, who previously held positions at Twitter, Google and Microsoft.

Cortese, who helped found the connected fitness company alongside former CEO John Foley in 2012, will move into an advisory role beginning Nov. 1, the company said.Sign up for NBC Philadelphia newsletters.

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