John Foley, CEO of Peloton.
Adam Jeffery | CNBC
Peloton plans to replace CEO John Foley and cut 2,800 jobs as it hopes to restructure its business amid waning demand, according to a report in the Wall Street Journal.
Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become CEO and president and join Peloton’s board, the report said.
A Peloton spokesperson did not immediately respond to CNBC’s request for comment.
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Source: https://www.cnbc.com/2022/02/08/peloton-ceo-john-foley-to-step-down-transition-to-executive-chair-as-company-cuts-2800-jobs-says-report.html