John Foley and Hisao Kushi have resigned from Peloton.
The businessmen founded the exercise equipment company back in 2012 but have decided to step down from their respective positions as Executive Chair and Hisao Kushi as Chief Legal Officer, with former Audit Committee Chair Karen Boone stepping into John's shoes and former Uber boss Tammy Albarrán set to replace Hisao in his role.
In a blog post, the company said: "The Board has appointed Karen Boone as Peloton's Chairperson of the Board. Boone was first elected to Peloton's Board as Audit Committee Chair in 2019 and subsequently named Lead Independent Director in October 2021. She previously served as President, Chief Financial and Administrative Officer of Restoration Hardware (RH). During her tenure at RH, Boone led the company through tremendous growth, the transition to its current membership model, as well as through several key financial milestones and transactions.
"Tammy Albarrán will replace Kushi as Chief Legal Officer and Corporate Secretary for Peloton, effective October 3, 2022. In her new role, Albarrán will manage the Legal, Compliance, and Policy functions. Albarrán is one of the technology industry's most well-regarded legal executives and brings a wealth of experience to the job, having served most recently as Chief Deputy General Counsel and Deputy Corporate Secretary at Uber Technologies, Inc. During her time at Uber, Albarrán oversaw Uber's global legal teams and was a driving force behind the company's cultural transformation. Albarrán was also a key champion of the company's diversity, equity, and inclusion efforts. Prior to Uber, Albarrán was a securities litigation and investigations Partner at Covington Burling LLP, working alongside former Attorney General Eric Holder. Together, Albarrán and Holder co-authored the high-profile report that resulted in profound changes at Uber."
Spotify CFO Barry McCarthy took over the leadership role and thanked the co-founders for all of their "hard work" over the years.
He 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."
