Peloton founders to leave the business
Peloton’s founders John Foley and Hisao Kushi are to leave the business.
The interactive fitness platform said it had accepted the resignations of the pair who are executive chair and chief legal officer respectively.
Having co-founded Peloton in 2012, Foley was the company’s chief executive for 10 years before becoming executive chair in February. Meanwhile Kushi has served as chief legal officer since 2015.
Foley said: “As I reflect on the journey Peloton has been on since we founded it, I am so proud of what we have built together. From day one, the incredible talent we’ve had on our team and the dedication, hard work, and creativity of every Peloton employee are what got us to where we are today. We founded the company because we wanted to make fitness and wellness convenient, fun, and effective. Because of the work of thousands of people, we’ve done that.
“Now it is time for me to start a new professional chapter. I have passion for building companies and creating great teams, and I am excited to do that again in a new space.”
Peloton has also announced that Karen Boone has been appointed chairperson of the board. Boone was first elected to Peloton’s board as audit committee chair in 2019 and was subsequently named as lead independent director in October 2021. She previously held the position of president, chief financial and administrative officer of Restoration Hardware.
In addition, Tammy Albarrán will replace Kushi as chief legal officer and corporate secretary from 3 October. She was previously chief deputy general counsel and deputy corporate secretary at Uber Technologies.
Peloton chief executive Barry McCarthy said, “I would like to offer my gratitude to John and Hisao for their shared vision, dedication, and passion for Peloton. Through their hard work, they have given the world the connected fitness industry and created a platform that empowers each of us to be the best version of ourselves. We are indebted to them for their countless contributions.
“I would also like to congratulate Karen and Tammy, and I’m confident both will leverage their unique experiences to help move the company forward into our next chapter of growth.”