Peloton Interactive, Inc. said it had accepted the resignations of John Foley as Executive Chair and Hisao Kushi as Chief Legal Officer, effective September 12, 2022, and October 3, 2022, respectively. The Board elected Karen Boone as Chairperson.
Foley co-founded Peloton in 2012. Having been the company’s CEO for ten years, he became executive chair in February 2022. Kushi was also a co-founder of Peloton and has served as the company’s chief legal officer since 2015.
Boone was first elected to Peloton’s Board as audit committee chair in 2019 and subsequently named lead independent director in October 2021. Before that, she was president, chief financial and administrative officer of Restoration Hardware.
Tammy Albarrán replaces Kushi as chief legal officer and corporate secretary, effective October 3, 2022, managing legal, compliance and policy functions. Most recently, she was chief deputy general counsel and deputy corporate secretary at Uber Technologies, Inc., overseeing its global legal teams and cultural transformation. Before Uber, Albarrán was a securities litigation and investigations partner at Covington & Burling LLP, working alongside former Attorney General Eric Holder.
Boone, said, “We are immensely grateful to John and Hisao for having the vision, ambition and commitment to turn Peloton into the iconic consumer brand it is today. Not only did they succeed in building a great company, but they also transformed an entire industry by leveraging fitness and technology. Their impact will resonate long after their departure.”
Foley added, “As I reflect on the journey Peloton has been on since we founded it, I am so proud of what we have built together. From day one, the incredible talent we’ve had on our team and the dedication, hard work, and creativity of every Peloton employee are what got us to where we are today. We founded the company because we wanted to make fitness and wellness convenient, fun and effective. Because of the work of thousands of people, we’ve done that.
“Now it is time for me to start a new professional chapter. I have a passion for building companies and creating great teams, and I am excited to do that again in a new space. I am leaving the company in good hands. The leadership team, with the support of the Board, is going to take Peloton to the next level as a company, and I am happy to know our members are going to continue to be surprised, delighted, engaged, and excited about everything that is in store (looking at you, rower!).
“Goodbyes are never easy, but I don’t consider this goodbye. I will always be a Peloton member and a passionate advocate for our mission. So until we meet again, stay safe and strong. And I’ll see you on the leaderboard.”
Peloton CEO Barry McCarthy said, “I would like to offer my gratitude to John and Hisao for their shared vision, dedication and passion for Peloton. Through their hard work, they have given the world the connected fitness industry and created a platform that empowers each of us to be the best version of ourselves. We are indebted to them for their countless contributions.”
McCarthy continued, “I would also like to congratulate Karen and Tammy, and I’m confident both will leverage their unique experiences to help move the company forward into our next chapter of growth.”
Photo courtesy Peloton
