Here’s what to know about Peloton as co-founder John Foley steps down as Chief Executive and Bary McCarthy steps in
has gone from a pandemic darling
to a company that has changed its chief executive and is cutting roughly 20% of its corporate positions. The maker of exercise equipment that pairs with virtual classes saw demand surge during the early months of the pandemic as homebound customers ordered its products. The popularity of the company and its equipment helped to lift Peloton’s market value to more than $50 billion.
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