2 Peloton Founders Are Leaving the Company

Two founders of Peloton announced their resignations on Monday, part of an executive reshuffle at the maker of connected bikes and fitness equipment that was a pandemic winner but whose stock price has lost more than two-thirds of its value this year.

One of the founders, John Foley, who was also the chairman and a former chief executive, is leaving the company immediately. Hisao Kushi, another founder and the chief legal officer, will depart on Oct. 3, according to a company statement.

After riding high during the early part of the pandemic, when people were isolating at home and couldn’t exercise at gyms, Peloton announced a $1.2 billion quarterly loss last month, and has lost money for six straight quarters. Peloton declined to comment.

Article source: https://www.nytimes.com/2022/09/12/business/peloton-resignations-foley-kushi.html