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Peloton CEO Says He Has No Interest in Selling the Company
Posted
June 5, 2025
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June 5, 2025
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9:12Now PlayingPeloton CEO Peter Stern joins Bloomberg's Mark Gurman at the Bloomberg Tech Summit to talk the company's growth goals, its use of AI, and why he is not interested in selling.
Peloton Interactive Inc. Chief Executive Officer Peter Stern said he has no interest in selling the business while he works on a turnaround, vowing to keep it “a standalone company.”
Speaking at the Bloomberg Tech summit in San Francisco Thursday, Stern outlined his vision for reviving the fitness giant.
“I was not hired to sell this company,” Stern said in a conversation with Bloomberg’s Mark Gurman. “I was hired to bring this company back to growth, reinvigorate it, and that is happening.”
Stern, who previously worked at Ford Motor Co., Apple Inc. and Time Warner on their subscription businesses, joined Peloton at the start of this year to lead its comeback efforts. The company had been a success story during the early days of the pandemic — when locked-down consumers snapped up its stationary bikes and subscription plans — but it has since struggled with sales declines and strategy shifts.
Stern said he’s been working head-down to rebuild the company, along with establishing a strategy and purpose to carry it through the long term.
He said Peloton needs to become a more personalized coach, with the help of AI, and provide more opportunity to reach people in retail, internationally and while they’re traveling. That includes building a bigger presence in hotel gyms.
At the same time, he said the success of the company depends on finding the balance between hardware and software. “Our future is not to try to scale the app at the expense of that equipment business,” he said.
Peloton reported a 13% sales decrease last quarter, adding to years of declines, though adjusted earnings performed better than expected. In addition to grappling with subscriptions, revenue from hardware such as its bikes and treadmills continues to take a hit.
Earlier this week, the company announced a resale marketplace called Peloton Repowered that lets members sell equipment or products.
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