Peloton co-founder and CEO John Foley has resigned from his role as part of a major restructuring of the company, including board changes and cost savings, The Wall Street Journal reported Tuesday. The company’s struggling share price rose 20% following reports of a possible sale.
According to the journal, Foley will resign from his role to become CEO, and former Spotify and Netflix CFO Barry McCarthy will become Peloton’s new CEO.
Olympic Covid Pullout: Vincent Zhou of the American Figure Skating Association has been eliminated as a result of a positive test at the latest. Here is the complete list. According to a journal report, the recruitment of new CEOs considers Peloton selling at its current share price, which has fallen nearly 80% over the past year, despite reports of interest from buyers such as Amazon, Nike and Apple.
