Peloton announces Ford exec, founder of Apple Fitness+ Peter Stern as its next CEO

Peloton has chosen Ford executive Peter Stern to be its next CEO after Barry McCarthy stepped down earlier this year.

Stern, the president of Ford Integrated Services, primarily oversees the automotive company's subscription services, such as BlueCruise, Pro Intelligence, connectivity and security. He also led the company's digital product team.

McCarthy had taken over from founder John Foley and had worked to bring Peloton back from the brink of extinction by dramatically cutting costs and redirecting strategy. In a news release, Peloton said that it sought out a new CEO that appreciates and loves Peloton's products, understands the company's challenges and opportunities and is passionate about helping people achieve their fitness goals.

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