雅虎香港電視

STORY: Peloton CEO Barry McCarthy, who took the helm two years ago to revive the flagging fitness firm, is stepping down.

His departure, announced by the company Thursday, comes as demand for Peloton’s connected bikes and treadmills remains weak.

Sales have waned since gyms reopened post-pandemic, followed by a cutback in consumer spending due to elevated inflation.

McCarthy replaced founder John Foley in 2022, and with business chops honed at Netflix and Spotify, rebranded Peloton into a software-focused company, leaning on its exclusive content to drive subscriber growth.

He also cut jobs, adjusted bike prices and focused on digital subscription plans in an effort to return the company to profitability.

But subscriber numbers are losing muscle, leading the company on Thursday to lower its full-year forecast for members by 30,000.

Peloton also announced a 15% cut to its global workforce on Thursday and said two board members will serve as co-CEOs until a new one is hired.

Peloton's stock price initially rose on the news but soon dropped as much as 16% in Thursday morning trading to just under $3 a share. At its peak, Peloton reached $171 a share in January of 2021.