As exercise demands shifted away from the gym amid pandemic-related shutdowns, Peloton hit heights experienced by precious few tech firms. That made the connected fitness company’s crash down to Earth all the more jarring. In February, co-founder John Foley stepped down as CEO amid a 2,800-person layoff.
Spotify CFO Barry McCarthy stepped into the leadership role, before appointing a number of new members to the executive team, in a bid to stem the bleeding, tighten the company’s belt and, perhaps, raise its stock price in the process.
Today, Peloton announced that Foley — who had remained in the executive chair position — has resigned from the company altogether, alongside fellow founder and Chief Legal Officer Hisao Kushi. Foley’s resignation goes into effect today, while Kushi’s is planned for October 3.
In addition to the rest of the recent C-level hires, Tammy Albarrán will beco …
