Peloton has announced a new CEO to lead its turnaround effort. The struggling fitness company said Thursday that Peter Stern, currently president of Ford Integrated Services and previously a VP at Apple, will be taking the helm on January 1.
Stern was cofounder of Apple Fitness+, a subscription service for workout videos. "Working for Peloton is a dream come true for me," Stern said. "My goal is to help millions of people live longer, healthier and happier lives."
Peloton, which became a pandemic success story when consumers were stuck at home, has struggled in recent years as demand for its products has slipped.
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