After a series of major execution missteps, Peloton (PTON) has a new activist investor knocking down its doors.
In a scathing new letter released on Monday, activist Blackwells Capital — which reportedly has amassed a less than 5% stake in the company — demanded Chairman, founder and CEO John Foley be immediately fired.
“Mr. Foley must be held accountable for his repeated failures to effectively lead Peloton,” Blackwells chief investment officer Jason Aintabi wrote in the letter….
Source link
