Peloton Interactive Inc. co-founders John Foley and Hisao Kushi are stepping down from their executive roles, at a time the troubled exercise bike maker is undergoing massive changes to trim losses and win back investor confidence.
“It is time for me to start a new professional chapter,” said Foley, who was replaced earlier this year as chief executive under pressure from an activist investor as the company struggled to maintain the breakneck growth that propelled its valuation to $52 billion in early 2021.
