Peloton CEO Barry McCarthy to Step Down Amid Job Cuts
The chief executive of Peloton is stepping down as the company prepares to cut about 15% of its workforce.
The fitness equipment company said Thursday that Barry McCarthy is leaving the C-suite and the board, though he will remain an advisor to the company through the rest of the year.
The board’s chair, Karen Boone, and fellow director Chris Bruzzo will take over as interim co-CEOs while the company seeks out a permanent replacement. Another director, Jay Hoag, has been named the board’s next chairperson.
Peloton separately announced that it is introducing fresh restructuring efforts that are expected to impact 400 employees, or about 15% of its global headcount.
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