Peloton CEO Barry McCarthy Steps Down, Peloton Announces Layoffs
Company sees significant leadership shakeup as part of major restructuring plan
Dalana Brand takes over as Chief People Officer
Peloton Interactive announced a series of significant changes to its leadership team, including the departure of CEO Barry McCarthy and the appointment of Dalana Brand as Chief People Officer. As part of a major restructuring plan, the company also plans to lay off approximately 15% of its workforce.
Brand, who has been with Peloton since March 2023, will oversee the global people team. She brings over 20 years of experience in human resources, having previously held leadership roles at companies such as Airbnb, Google, and Uber.
Other key leadership changes:
- John Foley, Peloton's co-founder and former CEO, has stepped down as Executive Chair.
- Hisao Kushi, Peloton's Chief Legal Officer, has also resigned.
- Karen Boone continues as Peloton's Chairperson.
- Chris Bruzzo remains President and Chief Executive Officer.
The company has initiated a comprehensive search process to identify Peloton's next CEO.
Peloton has been facing challenges in recent months, including declining sales and increased competition. The company's stock price has plummeted by over 90% since its peak in early 2021.
The layoffs, which are expected to affect approximately 2,800 employees, are part of a cost-cutting plan that Peloton hopes will help it return to profitability.
Comments