Peloton Chairman John Foley to Exit in Management Shake-Up

Peloton Interactive stated co-founder John Foley and different senior leaders are leaving the corporate in a administration shake-up because the maker of related train gear races to show itself round.

Peloton has struggled with deepening losses this 12 months after a pandemic-fueled spike in demand for its at-home exercises left the corporate with a glut of unsold bicycles when shoppers returned to gyms and out of doors actions. The corporate’s shares have plunged greater than 90% over the previous 12 months.