Peloton (PTON) has announced the resignations of company co-founders John Foley and Hisao
Kushi amid an executive shakeup at the struggling fitness company.
Foley, a former chief executive officer (CEO) at Peloton, resigned his position as executive
chairman of the board, while Kushi is leaving as the company’s chief legal officer.
A third executive, chief commercial officer Kevin Cornils, is also leaving Peloton.
Foley served as Peloton’s CEO for nearly 10 years before stepping down in February amid a big
round of layoffs. He moved into the role of executive chairman at the company.
Peloton went public in 2019 and thrived during the pandemic as gyms shutdown and people
purchased the company’s exercise equipment to workout from home.
Shares of the company hit a peak of $167 U.S. in October 2020. However, the stock has fallen
nearly 70% this year and is trading at $11.05 U.S. per share as demand for its internet-
connected treadmills and exercise bikes fades.
In recent months, Peloton has introduced rental options for the company’s bikes, started selling
equipment on Amazon (AMZN), and expanded its digital subscriber options.
Kushi is being replaced by Tammy Albarrán, Uber’s chief deputy general counsel. Chief strategy
officer Dion Sanders will take on the newly created role of chief emerging business officer at
Peloton.
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