Peloton reportedly looks to sell up to a 20% stake amid struggles

In February, Peloton CEO John Foley stepped down as the connected fitness pioneer cut 2,800 jobs. No one could say the news was unexpected. The firm was experiencing dramatic turmoil after flying high from pandemic sales and then falling back down to Earth. Add to that 2021’s massive product recall and you’ve got a rough couple of years for the executive.
But even with former Spotify CFO Barry McCarthy stepping into the role, it seems the company isn’t out of the woods.
“This appointment is the culmination of a months-long succession plan that I’ve been working on with our Board of Directors,

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