Peloton shakes up C-suite with newly created COO position

Seeking Alpha News (Wed, 09-Apr 8:27 AM)

To position the company for further growth and facilitate rapid innovation, Peloton is shaking up its C-suite and creating new positions within its executive team.

As part of this initiative, Charles Kirol has been appointed to the newly created position of Chief Operating Officer. Kirol comes to Peloton (NASDAQ:PTON) from iRobot (IRBT) where he served as Executive Vice President and Chief Global Operations and Technology Officer.

Within the new structure, Andy Rendich will step down as chief supply chain officer and remain at the company as an advisor through the rest of the fiscal year.

Dion Camp Sanders, the current head of emerging business, will become chief commercial officer, leading Peloton’s (NASDAQ:PTON) efforts to grow first-party retail sales, international strategy, bike rental and sales of pre-owned equipment.

Finally, the company has also begun a search for a chief information officer, reporting directly to COO Kirol.

The refreshed C-suite comes as Peloton’s (NASDAQ:PTON) most recent quarterly results show the company may be finally getting back on track from a post-pandemic slump after issuing an upbeat outlook for FY25 thanks to new innovations, widening gross margins, and improved churn rates.

“We see significant opportunities ahead, but we have a steep hill to climb to reach sustained, profitable growth,” the company said recently in a letter to its shareholders. Unfortunately, with all of Peloton’s (PTON) fitness equipment manufactured in Taiwan, this hill was just made a little steeper with 32% import tariffs on Taiwan.