Peloton on Thursday named Ford executive Peter Stern as its new CEO, tasking him with trying to turn around the beleaguered high-end fitness company.
It’s the company’s third CEO in under three years.
Stern, who currently serves as the president of Ford Integrated Services, will take over as CEO and join the company’s board of directors in January.
Jay Hoag, the chairman of Peloton’s board, said Stern is “a seasoned strategist with a track record of driving sustainable growth through innovation.
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“We have every confidence in his ability to lead Peloton during this important time,” Hoag said. “He brings meaningful expertise in scaling differentiated technology-oriented platforms and has a deep understanding of the health and wellness sector — making him uniquely suited to serve as Peloton’s next CEO.”
Karen Boone and Chris Bruzzo were named interim co-CEOs and co-presidents in May after former CEO Barry McCarthy was ousted.
McCarthy took the reins from John Foley in February 2022…