Author: Victoria Song
Photo by Joe Raedle/Getty Images
Last week was an eventful week for Peloton: it got a new CEO, investors unleashed their fury at outgoing CEO John Foley, 2,800 employees were fired, and then some of those employees crashed an all-hands. At the heart of the drama, a big question was whether new CEO Barry McCarthy had been brought on to get Peloton in shape for a sale as the company’s value has plunged to $8 billion from a pandemic high of $50 billion. However, in a Financial Times interview, McCarthy has officially nixed the idea for the “foreseeable future.”
“If I thought it was likely that the business was going to be acquired in the foreseeable future, I can’t imagine it would be a rational act to move across the country. There are lots of other things I could be...
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Photo by Joe Raedle/Getty Images
Last week was an eventful week for Peloton: it got a new CEO, investors unleashed their fury at outgoing CEO John Foley, 2,800 employees were fired, and then some of those employees crashed an all-hands. At the heart of the drama, a big question was whether new CEO Barry McCarthy had been brought on to get Peloton in shape for a sale as the company’s value has plunged to $8 billion from a pandemic high of $50 billion. However, in a Financial Times interview, McCarthy has officially nixed the idea for the “foreseeable future.”
“If I thought it was likely that the business was going to be acquired in the foreseeable future, I can’t imagine it would be a rational act to move across the country. There are lots of other things I could be...
Continue reading…
Continue reading...