In an interview with Financial Times, Barry McCarthy, who took over as Peloton’s CEO from Co-founder John Foley last week, ruled out a sale of the connected fitness leader.
“If I thought it was likely that the business was going to be acquired in the foreseeable future, I can’t imagine it would be a rational act to move across the country,” he told FT. “There are lots of other things I could be doing with my time that are quite lucrative than hanging out with a business that’s about to be sold.”
Instead, McCarthy told the newspaper that the company would elevate Peloton’s content, extend to new geographies and expand its product portfolio. According to McCarthy, “where the magic lives” at Peloton is on its digital screens and not its connected bikes or treadmills.
Peloton has been cited as a potential takeover target after an activist investor urged a sale and the firing of Foley. Amazon, Walt Disney, Sony, Apple, and Nike were cited as potential suitors.
Shares of Peloton fell $1.85, or 5.3 percent, Monday to $32.83.
Photo courtesy Peloton
