Barry McCarthy, the president and CEO of Peloton Interactive, made his way to a morning session at the prestigious Allen & Company Sun Valley Conference in Sun Valley, Idaho on July 06, 2022.
Photographed by Kevin Dietsch | Getty Images
In a recent announcement, Peloton revealed that CEO Barry McCarthy will be resigning from his position, leading to a 15% reduction in the company’s workforce. This decision was made to align spending with revenue effectively.
McCarthy, a seasoned executive with experience at Spotify and Netflix, will transition into a strategic advisory role at Peloton until the end of the year. Meanwhile, Karen Boone, the chairperson of the company, and director Chris Bruzzo will step in as interim co-CEOs. Boone, formerly the CFO of Restoration Hardware, and Bruzzo, a veteran executive at Electronic Arts, will oversee operations until a permanent CEO is appointed.
As part of a comprehensive restructuring plan, Peloton will downsize its global workforce by 15%, amounting to approximately 400 employees. The company also intends to close retail showrooms and implement changes in its international sales strategy…
2024-05-02 09:49:43
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