Today, Peloton announced that Peter Stern, the president of Ford Integrated Services, will become its new CEO and president. Since it was founded in 2012, Stern is the third CEO to lead Peloton.
Jay Hoag, Chairperson of the Peloton Board, made this statement on behalf of his fellow directors following the announcement:
“Peter is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Peloton during this important time. He brings meaningful expertise in scaling differentiated technology-oriented platforms and has a deep understanding of the health and wellness sector – making him uniquely suited to serve as Peloton’s next CEO.”
He added “Peter embodies Peloton’s core values, including operating with a bias for action, empowering teams of smart creatives and working together. We hope the entire Peloton community shares our excitement and looks forward to working with Peter as we lead Peloton into the future and unlock long-term value for all our stakeholders.”
“Working for Peloton is a dream come true for me,” said Stern. “My goal is to help millions of people live longer, healthier and happier lives.”
The move to hire Stern signals that Peloton is sticking to its main promise to investors – to maintain its high-margin, recurring subscription revenue. Stern’s background will help to sustain and build Peloton’s connected fitness subscribers and app subscribers.
Peloton’s press release today comes at the same time as it announced its financial results for the first quarter fiscal 2025. The company stated: “Our Q1 FY25 results reflect continued progress toward Peloton’s overarching financial goal of making our business sustainable and profitable for the long term.”
Peter Stern will be joining Peloton effective January 1, 2025.
By CEO NA Editorial Staff
