https://www.cnbc.com/2022/02/08/peloton-ceo-john-foley-to-st…
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Peloton announced Tuesday it plans to replace CEO John Foley and cut 2,800 jobs, or about 20% of corporate positions.
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Barry McCarthy, the former chief financial officer of Spotify and Netflix, will become CEO and president and join Peloton’s board.
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Peloton said it expects to slash roughly $800 million in annual costs and reduce capital expenditures by roughly $150 million this year.