From CNBC: 2024-10-31 11:10:08

Peloton appoints Peter Stern, a Ford executive and Apple Fitness+ co-founder, as its new CEO and president. Stern, currently president of Ford Integrated Services, is set to take over on Jan. 1. This marks the third CEO in Peloton’s history. Shares jumped over 20% following the announcement and Q1 earnings report.

Stern’s appointment signals Peloton’s focus on high-margin, recurring subscription revenue. His experience at Ford running subscription services is expected to help grow and maintain Peloton’s subscriber base. Peloton sought a CEO who appreciates their products, understands challenges, and is passionate about fitness goals. Stern has over 20 years of experience in hardware, software, content, and services.

As an early Peloton member and co-founder of Apple Fitness+, Stern brings a wealth of knowledge in operating subscription-based businesses. With over 30 patents, including one for online media content, he is positioned to drive innovation at Peloton. Stern’s goal is to help millions live healthier lives, making working at Peloton a dream come true for him.



Read more at CNBC: Peloton announces Ford exec Peter Stern as its next CEO