A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site 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, effective next week, the company announced Monday.
The handover marks another departure among the at-home fitness company’s top ranks. Peloton earlier this year appointed Barry McCarthy, formerly CFO at Netflix and Spotify, to the role of chief executive officer.
McCarthy took the helm from founder John Foley at a time of intense upheaval at the company, which has suffered from rising costs and waning demand. He’s launched the company on an aggressive cost restructuring plan that in part emphasizes recurring subscription revenue.
“Liz is a deeply talented finance executive and will be an invaluable addition to Peloton’s leadership team,” McCarthy said in a release. “Having worked at 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 operational excellence. I have seen her intellect, abilities, and leadership firsthand and am excited to work closely with her as we execute the next phase of Peloton’s journey.”
This story is developing. Please check back for updates.