Peloton (PTON) will look to a hardcore numbers man with major cred on Wall Street to stabilize its ship.
The company will appoint Barry McCarthy as CEO, replacing founder and CEO John Foley who will move into the executive chairman role the company said on Tuesday. Peloton will also slash 2,800 jobs as it seeks to better align costs with slowing demand for its connected bikes.
Peloton said it aims to achieve $800 million in cost savings while also slashing capital expenditures by $150 million…
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