Written by Cláudio Afonso | LinkedIn | X
Peter Stern, a senior executive from Ford, was announced on Thursday as Peloton’s new chief executive and president.
Stern joined Ford in August 2023 as President of Integrated Services, where he focused on creating user experiences and new business models at the intersection of hardware, software, and services.
His responsibilities included also overseeing the BlueCruise self-driving technology, Pro Intelligence, and the digital product development team.
Before joining Ford, Stern worked at Apple for six and a half years as a business leader for media subscription services and transactional stores.
Stern becomes now the third CEO in Peloton’s history, following Barry McCarthy who announced left earlier this year.
Jay Hoag, Chairperson of the Peloton Board, said the former Apple, Ford executive “brings meaningful expertise in scaling differentiated technology-oriented platforms.”
“Peter is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Peloton during this important time. He brings meaningful expertise in scaling differentiated technology-oriented platforms and has a deep understanding of the health and wellness sector – making him uniquely suited to serve as Peloton’s next CEO,” Hoag stated.
“What’s more, Peter embodies Peloton’s core values, including operating with a bias for action, empowering teams of smart creatives and working together. We hope the entire Peloton community shares our excitement and looks forward to working with Peter as we lead Peloton into the future and unlock long-term value for all our stakeholders,” the executive added.
Ford Motor Company reported earlier this week its third quarter earnings results posting a third-quarter loss of $1.2 billion in its electric vehicle (EV) unit, pushing year-to-date losses for the segment to $3.7 billion.
In total, Ford reported revenue of $46.2 billion for the quarter, down from $47.8 billion in the previous quarter. Net income slipped to $900 million, or 22 cents per share, from $1.2 billion, or 30 cents per share, in the same period a year earlier.
Written by Cláudio Afonso | LinkedIn | X
