| Advertisement |
Oct. 31 (UPI) -- Peter Stern, the president of Ford Integrated, will take over Peloton Interactive as president and CEO starting Jan. 1, the fitness company said on Thursday. Stern who also served in leadership roles at Apple and Time Warner Cable, was selected by the Peloton board. He replaces Barry McCarthy, who left in May when Peloton announced that it was shedding 400 employees from its payroll.
Advertisement
"Peter is a seasoned strategist with a track record of driving sustainable growth through innovation and we have every confidence in his ability to lead Peloton during this important time," Peloton board chair person Jay Hoag said in a statement.
"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."
Peloton said Stern has been a customer of Peloton since 2016, using the company products in his personal fitness routine.
"Working for Peloton is a dream come true for me," Stern said in a statement. "My goal is to help millions of people live longer, healthier and happier lives. Peloton, with its unique combination of people, products, and passionate members, provides me an opportunity to just that."
In May, Peloton said the layoffs, which at the time represented 15% of its employees, would allow to fitness giant to make software, hardware and content innovations and improvements to its business.
Board members Karen Boone and Chris Bruzzo had been handling CEO duties since McCarthy's departure. Hoag was also named to lead the board at that time.
