• Loading stock data...
Monday, July 14, 2025

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

  • The company has fallen from grace after roaring success in 2020.
  • More job cuts were announced Thursday, too.
Peloton
Hilton

Peloton, the once-booming leader in the at-home fitness space, announced Thursday that CEO Barry McCarthy is stepping down and about 400 jobs, or 15% of its workforce, would be cut. It’s just the latest bad news in what has been a roller coaster for Peloton since going public in 2019. Here’s a snapshot of major events in recent years.

  • Dec. 5, 2019: The release of a holiday ad deemed controversial by some coincides with Peloton’s stock dropping more than 10% in a matter of a few days.
    ⬇️ Stock value: $31.31
  • Dec. 23, 2020: Peloton stock hits an all-time high on the back of skyrocketing business during the COVID-19 pandemic that closes gyms and keeps hundreds of millions of customers in their homes.
    ⬆️ Stock value: $162.76
  • Feb. 4, 2021: The company reports its first billion-dollar fiscal quarter and pledges to spend $100 million to speed up shipping times to meet increasing demand. Later that month, a Saturday Night Live skit pokes fun at the brand’s popularity.
    ⬇️ Stock value: $146.79
  • Dec. 31, 2021: Peloton stock finishes the year down 76% as the at-home fitness craze slows.
    ⬇️ Stock value: $35.76
  • Feb. 8, 2022: Cofounder John Foley steps down as CEO and becomes executive chairman just weeks after major shareholder Blackwells Capital called for his removal. McCarthy, a former CFO at Spotify and Netflix, takes over as CEO as the company announces it will cut 2,800 jobs.
    ⬇️ Stock value: $37.27
  • Sept. 12, 2022: Foley and fellow cofounder Hisao Kushi exit the company altogether after another 800 jobs were eliminated the month before.
    ⬇️ Stock value: $11.07
  • Jan. 5, 2023: Peloton agrees to pay a $19 million civil penalty for failing to immediately report treadmill defects—which caused a child’s death—to the U.S. Consumer Product Safety Commission.
    ⬇️ Stock value: $8.58
  • May 11, 2023: A recall of 2.2 million Peloton bikes is announced due to a seat defect on original models sold as far back as ’18.
    ⬇️ Stock value: $6.86
  • Oct. 18, 2023: Peloton strikes a deal to offer NBA and WNBA games from compatible devices via its new entertainment hub. The live sports play came two months after Peloton’s first name, image, and likeness deal with Michigan athletics.
    ⬇️ Stock value: $4.80

On Thursday, Peloton stock closed at $3.14 after dipping below $3 for part of the day. Two interim CEOs were announced as the company said it would begin a comprehensive search for its next long-term leader.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NFL’s New Headsets Are Designed to Survive Coach Tantrums

New NFL coaching headsets underwent “extensive drop testing.”

MLB’s HR Derby’s $1M Prize Tops Salaries for Three Rising Stars

Three derby competitors could more than double their 2025 salary.

SEC’s Greg Sankey: Conference Not Sold on Private Equity—for Now

SEC commissioner Greg Sankey said he’s taken PE meetings.
Apr 6, 2024; Miami, Florida, USA; The LIV Golf logo is on display along the 10th hole during the second round of LIV Golf Miami golf tournament at Trump National Doral.

LIV Golf’s New Leadership Reapplies for World Ranking Points

The league’s first attempt was denied in 2023.

Featured Today

May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
Sponsored

Win. Advance. Repeat: The Professional Fighters League’s Rise to Prominence 

As of 2025, PFL has introduced a World Tournament format, where every fighter must battle through a high-stakes bracket to reach a championship.
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.
The 2018 Ragin' Crossfit Games are held at Blackham Coliseum in Lafayette.
March 14, 2025

CrossFit for Sale After Years of Drama and Attrition

The intense fitness workout got popular in the early 2000s.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Sponsored

How On Location is Redefining the Olympic Winter Games Hospitality Experience

As the Olympic Winter Games Milano Cortina 2026 approaches, On Location—the Official Hospitality Provider—is redefining luxury hospitality.
Sponsored

The Surprising Ingredient That Can Improve Your VO2 Max

In the high-stakes world of sports, VO2 max—or maximum oxygen consumption—has emerged as a critical marker of endurance and performance.
Peloton Bike
October 31, 2024

Peloton Earnings Beat Expectations As It Still Loses Subscribers

Peloton tapped Peter Stern, former Ford executive and cofounder of Apple Fitness+, to be its new CEO.
September 4, 2024

Under Armour Sells MapMyFitness Back to Founders 11 Years Later

The founders sold the tracking app to the apparel giant in 2013.