Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
Posted on AllSides May 2nd, 2024
From The Center
Kevin Dietsch | Getty Images
Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.”
McCarthy, a former Spotify and Netflix executive, will become a strategic advisor to Peloton through the end of the year while Karen Boone, the company’s chairperson, and director Chris Bruzzo will serve as interim co-CEOs. Jay Hoag, another Peloton director, has been named the new chairperson of the board. Peloton is seeking a permanent CEO.
The company also announced...
Some content from this outlet may be limited or behind a paywall.
