Peloton has announced the appointment of Nick Caldwell as Chief Product Officer, effective Nov. 1, 2023. Caldwell succeeds Peloton Co-Founder, Tom Cortese, and will report to CEO Barry McCarthy, leading global product development.
The connected fitness brand describes Caldwell as a Silicon Valley veteran with more than 20 years of global leadership experience, joining the team with a proven track record of building and scaling products and services that excite customers, drive business growth, and deliver impact.
Cortese will move into an advisory role with the company, continuing to support its vision and growth.
“I want to thank Tom [Cortese] for his tireless dedication since launching Peloton nearly 12 years ago as a Co-Founder of the business,” said McCarthy. “We simply wouldn’t be here today without his contributions.”
Cortese added: “After nearly 12 years of pouring myself into Peloton and serving our Members, I have decided it is time to move on and create space for new perspectives … I’m eager for new growth for Peloton and for me personally, but I’m also excited to support and watch this next phase of Peloton’s evolution. I could not be more proud of what we have accomplished, together.”
Last month, Peloton reported a net loss of $241.8 million against a loss of $1,255.3 million in Q4 ended June 30, as total revenues fell by 5 percent to $642.1 million, below forecasts, from $678.1 million in the year-ago period.
