Peloton (PTON) Appoints Barry McCarthy as CEO

Peloton Interactive, Inc. (NASDAQ: PTON) today announced the following leadership transitions:

• Barry McCarthy, who has held senior leadership roles at Spotify and Netflix and is a longtime advisor and board member at public and private technology companies, has been appointed CEO and President of Peloton, effective on February 9, 2022. He will also join Peloton's Board of Directors.
• Peloton Co-Founder John Foley will become Executive Chair.
• William Lynch transitions from President of Peloton to a non-executive director on the Board.

Karen Boone, Lead Independent Director, said, "Today's leadership changes are the culmination of a succession planning process that the Board and John have worked on together over the last several months. We all agree that Barry is uniquely suited to lead Peloton into its next chapter and that this leadership transition will best position Peloton for sustainable growth, profitability, and long-term success. Barry is a proven leader, well known for his financial acumen and record of driving transformative change at iconic companies including Netflix and Spotify. In addition to his own extensive experience and expertise, Barry will also benefit from John's continued support as Executive Chair, which we view as a winning combination for all Peloton stakeholders."

Foley said, "Since founding Peloton a decade ago, we've grown this brand to engage and motivate a loyal community of more than 6.6 million Members. I'm incredibly proud to have worked with such talented teammates over the years who have helped me build Peloton into what it is today, and I'm confident that Barry is the right leader to take the company into its next phase of growth. He's not only recognized as an expert in running subscription business models and helping category-leading digital streaming companies flourish, but he has also had tremendous success in partnering with founder CEOs at other brands. I'm excited to learn from him and work alongside him as Executive Chair."

McCarthy said, "As a passionate Peloton Member, I have experienced firsthand this fantastic company's mission and believe there is enormous potential for the platform. I'm honored to join Peloton at such an important moment in the company's history and look forward to working closely with John, the Board, and Peloton's team members at all levels of the organization to execute against Peloton's strategy and take the business to the next level."

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