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Peloton’s Surprise Shake Up Triggers Record Setting Rally
Posted
February 8, 2022
Views
340
Likes
4
Engagement
1.18%
February 8, 2022
340
4
1.18%
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1:14Now PlayingA surprise shake-up at Peloton Interactive Inc. sent the shares on their biggest one-day rally ever Tuesday and renewed speculation that the ailing fitness company could be a takeover target.
Peloton co-founder John Foley will step down as chief executive officer and become executive chairman, the company said, part of sweeping changes that include job cuts and the canceling of a proposed factory in Ohio. Barry McCarthy, former chief financial officer at Spotify Technology SA, will become CEO and president, effective Feb. 9.
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