Peloton Interactive, Inc. has appointed Siddharth (“Sid”) Thacker, formerly at Rent the Runway, as the company’s chief financial officer, effective June 22.
Thacker was CFO at Rent the Runway for three years. Peloton said that at Rent the Runway, Thacker “led a significant financial and operational transformation that reset the company’s balance sheet and drove a return to top-line revenue and subscriber growth. He accomplished these results with a customer-first mindset and through deep cross-functional partnership, engineering a shift to a more capital-efficient inventory model, optimizing marketing spend and scaling revenue streams, including resale and advertising.”
Before becoming CFO, Thacker was SVP of Finance and head of Data Science at Rent the Runway. Earlier in his career, he spent roughly two decades as a public-market investor managing consumer, financial and technology-focused investment portfolios.
At Peloton, Thacker will oversee the company’s global finance organization and strategy.
“This is a pivotal time for Peloton as we are now operating from a place of strategic optionality and playing offense. Sid brings the financial acumen, forward-looking strategy, and deep consumer focus we need to drive our next chapter,” said Peter Stern, CEO and president of Peloton. “He knows how to grow a business with multiple revenue streams, and he brings the financial discipline to make sure we do it right. Plus, his background as an investor gives us a unique edge as we look to accelerate innovation and grow our impact.”
“Having spent decades looking at businesses as a finance leader and as an investor, I’m excited by Peloton’s many strategic assets, from its iconic brand and unmatched instructors to its deeply loyal global community,” said incoming CFO Sid Thacker. “I look forward to working with the entire Peloton team to build on the current momentum and discipline, sharpen execution, and usher in a new chapter of profitable growth.”
Thacker will report to Stern and be based at the company’s New York headquarters. He succeeds interim Chief Financial Officer Saqib Baig, who will remain the company’s chief accounting officer. Baig took on the interim CFO role on March 16 after Liz Coddington stepped down to become CFO of energy firm Palmetto.
Images courtesy Peloton
