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Peloton CEO steps down as company slashes 15% of global workforce

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Peloton has announced a major shakeup in its leadership and operations as it looks to cut costs and turn the business around.

McCarthy will be succeeded by Peloton chairperson Karen Boone and director Chris Bruzzo, who will serve as interim co-CEOs as the company searches for a permanent top executive. Board member Jay Hoag will take over as the company's new chairperson. Following the announcements, shares in the company spiked by more than 11% ahead of market open Thursday morning.

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Peloton CEO Barry McCarthy steps down, company cuts 15% of staffThe connected fitness company will also cut 15% of its workforce.
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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.
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Peloton CEO to step down, company will cut 15% of global workforcePeloton CEO Barry McCarthy is stepping down from the beleaguered high-end fitness company after just over two years in the role, the company announced Thursday.
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