A Peloton exercise bike is seen after the opening bell for the company’s IPO at the Nasdaq Market site on September 26, 2019 in New York City, New York, US.
Shannon Stapleton | Reuters
of the peloton The chief financial officer, Jill Woodworth, is leaving the company and, effective next week, will be replaced by Liz Coddington, an executive at Amazon Web Services, the company announced Monday.
The handover marks another departure from the home fitness company’s top ranks. Peloton earlier this year appointed Barry McCarthy, former CFO at Netflix and Spotify, to the role of chief executive officer.
McCarthy took the helm from founder John Foley at a time of intense turmoil in the company, which is suffering from rising costs and declining demand. He has launched the company on an aggressive cost restructuring plan that partially emphasizes recurring subscription revenue.
“Liz is an extremely talented finance executive and will be an invaluable addition to Peloton’s leadership team,” McCarthy said in a release. “Having worked at some of the strongest and most recognizable technology brands, she not only brings the expertise needed to run our finance organization, but she has a critical understanding to drive growth and operational excellence. I see her wisdom The capabilities, and leadership are already there and we look forward to working closely with Peloton to take the next phase of its journey.”
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