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IPFS News Link • Business/ Commerce

Peloton Co-Founders Leave Company In Latest Management Shake-Up

• by Tyler Durden

... keep on coming, and this time from the very top because as Peloton announced after the close, the company's Executive Chairman and co-founder John Foley became the latest in a long line of corporate departures, stepping down from the fitness company as part of a leadership shake-up, extending the turbulence at a business trying - and failing - to pull out of a deep slump.

Foley, who helped start Peloton in 2012 and served as CEO for 10 years, is resigning effective Monday, the company said in a statement. Foley took the executive chairman role in February when he handed the reins to CEO Barry McCarthy, a veteran of Spotify and Netflix.

Amusingly, Foley's follies have tracked him away from the company: earlier this year he scrambled to sell his East Hampton oceanfront mansion...