A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO on the Nasdaq Marketplace in New York City, New York, U.S., September 26, 2019.
Shannon Stapleton | Reuters
Peloton’s chief financial officer, Jill Woodworth, is leaving the company and will be replaced by Liz Coddington, an executive at Amazon Web Services, beginning next week, the company announced Monday.
The transfer marks another departure from the home fitness company’s top ranks. Earlier this year, Peloton named Barry McCarthy, former chief financial officer of Netflix and Spotify, as chief executive.
McCarthy took the helm from founder John Foley at a time of intense upheaval at the company, which suffered from rising costs and falling demand. He launched the company on an aggressive cost restructuring plan that partly emphasizes recurring subscription revenue.
“Liz is an extremely talented finance manager and will be an invaluable addition to Peloton’s leadership team,” McCarthy said in a statement. “Having worked for some of the strongest and most recognizable technology brands, she not only brings the expertise needed to run our finance organization, but she has a critical understanding of what it takes to drive growth and excellence. I have seen her intellect, ability and leadership first hand and am excited to work closely with her as we execute the next phase of Peloton’s journey.”
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