Peloton’s vice president of hardware engineering, Sam Bowen, and its commercial operations executive, Rob Barker, are leaving the company, according to a report from Bloomberg.
Bowen led the development of the company’s bikes, treadmill, heart-rate monitor, as well the not-yet-released Guide device, while Barker previously served as the CEO of Precor, a company bought by Peloton that provides workout bikes to gyms and hotels. In a note on LinkedIn announcing his departure, Barker said, “After 27 years in various roles at Precor, Amer Sports and Peloton, I am moving from being a full-time executive at one company to a fitness industry small entrepreneur and advisor. I will continue to focus where my passion and heart lies: the fitness industry and those companies that are “helping people live the lives they desire.”
The news of their departure — as part of what Bloomberg calls a “broad shake up” — comes just after Peloton CEO and co-founder John Foley announced that he’s stepping down and has been replaced by Barry McCarthy, a former CFO of Spotify and Netflix. Foley is moving into the role of executive chairman of Peloton. At the same time, the company announced it would lay off about 2,800 employees (along with the odd detail that their severance packages include a one-year Peloton subscription).
If you want a better idea of what has gone wrong with Peloton so far then we can get you caught up on the story here, and even explain why a rumored acquisition might not be the next step.
Correction February 9th, 10:45AM ET: An earlier version of this post indicated Peloton is cutting 20 percent of its workforce. In fact, the 2,800 layoffs include cuts that account for 20 percent of its corporate workforce, not overall. We regret the error.