Heard on the Street: New CEO Barry McCarthy’s plan for Peloton could lead to some backpedaling
Peloton has been on a wild ride, announcing its CEO was stepping down and thousands of jobs would be cut, despite seeing a surge in sales early in the pandemic. Here’s why Peloton became a viral success, and why it’s spinning out now. Photo illustration: Jacob ReynoldsIf Barry’s bootcamp can’t whip Peloton into shape, what hope does it have? Investors may have to embrace Peloton’s unflattering new look.
New Chief Executive Officer Barry McCarthy came to Peloton determined to succeed. As he told The Wall Street Journal this week, “Either I leave here successfully, or I’m going to leave with a greatly diminished reputation.” To be fair, he had his work cut out for him. Mr.
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