New York, Sept. 13, (dpa/GNA) - Peloton co-founder John Foley is leaving his post as executive chairman, the struggling company announced on Monday.
Foley had already resigned his post in February after 10 years as the home gym equipment firm’s chief executive, but had stayed on as executive chairman of the board.
As a major shareholder, Foley is likely to retain considerable influence within the company, however.
Chief legal officer Hisao Kushi, another co-founder, is also leaving his post. Peloton named Tammy Albarran, who will join from Uber, as his successor.
The board of directors will be led in future by Karen Boone.
Peloton, which launched in 2012, experienced a boom at the start of the pandemic when many gyms closed, but is now struggling.
Chief executive Barry McCarthy, who took over from Foley in February, has been tasked with leading the company out of the crisis.
GNA