New Leadership for Peloton: Peter Stern Takes the Helm
Peloton has announced a significant change in its leadership, appointing Peter Stern as its new CEO and President. Stern, currently the President of Ford Integrated Services, will be stepping down from his role at Ford and taking the reins at Peloton on January 1.
A Seasoned Strategist with a Proven Track Record
Stern brings a wealth of experience to Peloton, having overseen Ford’s subscription services, including BlueCruise, Pro Intelligence, connectivity, and security. He has also led the company’s digital product team. With a background in scaling differentiated technology-oriented platforms and a deep understanding of the health and wellness sector, Stern is uniquely suited to lead Peloton during this critical phase.
A Perfect Fit for Peloton’s Core Values
According to Jay Hoag, Chairperson of Peloton’s board, Stern embodies the company’s core values, including operating with a bias for action, empowering teams of smart creatives, and working together. With a passion for helping people achieve their fitness goals, Stern is an early adopter of Peloton, having been a member since 2016.
Tripling Down on Subscription Revenue
Peloton’s decision to hire Stern indicates a renewed focus on its high-margin, recurring subscription revenue. With his experience running Ford’s subscription business, Stern is well-equipped to build out and sustain Peloton’s connected fitness subscribers and app subscribers.
A Product Innovator and Strategist
Stern has secured over 30 patents, including an online media content patent, demonstrating his ability to innovate and strategize. As the cofounder of Apple Fitness+, he helped grow the subscription base into the millions, showcasing his expertise in operating complex, subscription-based businesses.
A Dream Come True
“I’m thrilled to join Peloton and help millions of people live longer, healthier, and happier lives,” Stern said in a statement. With his unique combination of skills and experience, Stern is poised to lead Peloton towards a bright future.
Leave a Reply