Peloton announced on Thursday that Peter Stern, an executive from Ford and a co-founder of Apple Fitness+, will step in as its new CEO and president starting January 1. Stern, currently serving as President of Ford Integrated Services, manages Ford’s subscription services, including BlueCruise and Pro Intelligence, as well as its digital product team. His transition to Peloton signifies a strategic move for the fitness brand, which aims to capitalize on Stern’s experience with high-margin, recurring subscription models to drive growth and long-term sustainability.
In his new role, Stern will be Peloton’s third CEO, following Barry McCarthy, who succeeded founder John Foley and focused on cost-cutting and strategy realignment. McCarthy’s efforts helped stabilize Peloton after a challenging period of losses and restructuring, but with Stern’s appointment, Peloton is doubling down on its core value to investors: sustained growth through a robust subscription base.
Jay Hoag, chairperson of Peloton’s board, expressed confidence in Stern’s ability to lead Peloton, praising him as a “seasoned strategist” with a track record of fostering growth through innovation. Hoag noted that Stern’s deep understanding of technology, health, and wellness, along with his experience scaling subscription platforms, makes him an ideal fit for Peloton’s future.
Stern’s background includes extensive experience across prominent companies, including Ford, Apple, and Time Warner Cable. As co-founder of Apple Fitness+, he played a vital role in growing the platform’s subscription base and scaling its connected services. His career encompasses over 20 years of work at the intersection of hardware, software, content, and services, during which he has secured over 30 patents, highlighting his focus on product innovation.
Peloton emphasized that it was looking for a CEO who not only understands the company’s products and unique member community but also brings a strong commitment to health and wellness. A Peloton member since 2016, Stern aligns closely with the company’s mission to help people achieve fitness and wellness goals.
Reflecting on his new role, Stern expressed enthusiasm: “Working for Peloton is a dream come true for me. My goal is to help millions of people live longer, healthier, and happier lives. Peloton, with its unique combination of people, products, and passionate Members, provides me an opportunity to do just that.”
As Peloton prepares for Stern’s leadership, the company is pivoting to enhance its core subscription offerings and deliver a superior connected fitness experience. Stern’s appointment aligns with Peloton’s vision to innovate, retain subscribers, and expand its footprint in the fitness industry, reflecting a commitment to long-term growth and member engagement.
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