The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the exercise and treadmill company, which is also cutting almost 3,000 jobs.
Blackwells sent a presentation to Peloton yesterday outlining “the mismanagement of the company by John Foley, the poor governance and board composition and the rationale for immediately commencing a sale process.”
I guess he finally realized that customers had done the calculation: We can’t afford the Peleton bike and the $1.5 million house to put it in, like the commercials.
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