Peloton has chosen Peter Stern, a veteran of the subscription services industry, to lead the company as its new CEO and President. Stern's experience scaling successful services at Apple and Ford, coupled with Peloton's focus on software development and subscription growth, suggests a promising future for the company.
Peloton has appointed Peter Stern , a former Ford executive, as its new CEO and President, effective January 1st. Stern brings extensive experience in scaling subscription services, having led the growth of Apple Fitness Plus to millions of members and overseeing other successful ventures like Ford BlueCruise and Apple iCloud.
Karen Boone, Peloton's interim CEO, highlighted Stern's expertise in execution and his ability to balance profitability and growth, crucial aspects for Peloton's future after a period of overspending on growth initiatives. Stern's appointment signals Peloton's increasing focus on its services offerings. His six-year tenure at Apple as Vice President of Services equipped him with valuable insights into the subscription model, having managed major platforms like Fitness Plus, Apple TV Plus, iCloud, Apple News, Apple Books, Apple Arcade, and Apple One. Peloton is also actively developing new software features to enhance its user experience. These include a strength training app for gym-goers, which has already garnered 70,000 signups, and a second interactive game following the success of Lane Break, which engages 10% of active subscribers. In its Q1 2025 earnings call, Peloton reported total revenue slightly exceeding estimates at \$586 million, with \$160 million from hardware sales and \$426 million from subscriptions. The company raised its full year 2025 revenue guidance by \$40 million and projected positive free cash flow in all four quarters. Peloton's stock prices surged 22% following the announcement of strong financials and Stern's appointment, indicating investor confidence in the company's future direction
PELOTON CEO PETER STERN FORD APPLE SUBSCRIPTION SERVICES SOFTWARE DEVELOPMENT GROWTH FINANCIALS
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