Peloton, the New York-based indoor fitness company, among the 2020 Covid Winner titles, has announced that CFO Jill Woodworth will leave the group after four years of service. Woodworth will be replaced by former Amazon and Netflix executive Liz Coddington, starting June 13th. The Peloton stock, with a strong loss compared to the highs tested in the year of Covid, rose after the news up to + 1.6%, in pre-market on Wall Street.
The prices then canceled out the gains. Liz Coddington was an executive at Amazon Web Services.
Peloton continues to pay for the reopening of the economy from the darkest phase of the Covid-19 pandemic: the reopening has removed actual and potential customers from those indoor services they had relied on during the lockdown periods, in which they were forced to stay confined to the house.
In 2020, Peloton’s prices had flown by as much as + 368%, and then fell by 76% in 2021, closing the session on 31 December last at $ 35.76, around the levels of May 2020. At the moment the stock is trading at a value around 12 dollars.
In recent months, the indoor fitness company has come under fire from activist investor Blackwells Capital, who pressured the group last April to explore the option to go for sale.