Peloton's CEO throws in the towel after rocky turnaround attempt

Photo: Business Chief

Barry McCarthy, the outgoing CEO of Peloton Interactive Inc., is stepping down after a tumultuous two years at the helm. Lured out of retirement following successful CFO tenures at Netflix and Spotify, McCarthy faced a daunting task: rescuing Peloton from the brink of collapse.

McCarthy's efforts included significant cost-cutting measures like job reductions and outsourcing, a leadership overhaul, and a strategic shift towards fitness services over hardware sales. However, these maneuvers proved unsuccessful.

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