John Foley left Peloton on September 12, 2022, resigning as executive chair and departing the company’s board. Peloton said his departure was not the result of a disagreement over its operations, policies, or practices. Barry McCarthy had replaced Foley as CEO seven months earlier, in February 2022.
When did John Foley leave Peloton?
Peloton announced on September 12, 2022, that it had accepted Foley’s resignation as executive chair, effective immediately. The same day, the company’s SEC filing confirmed that he no longer served on its board. (Peloton announcement; Form 8-K.)
Why did Foley leave?
Foley described the move as the start of a new professional chapter, saying he wanted to build companies and teams again “in a new space.” Peloton’s filing says his departure was not caused by a disagreement with the company about its operations, policies, or practices. The public statements establish his stated plans and the company’s formal position, but do not give a more detailed explanation for his decision.
Who replaced Foley as Peloton CEO?
Barry McCarthy became Peloton’s CEO and president in February 2022, when Foley moved from the CEO role to executive chair. Foley had co-founded Peloton in 2012 and served as its CEO for 10 years. After Foley resigned in September, Karen Boone became board chair. These were distinct transitions: McCarthy succeeded Foley as CEO months before Foley left the board.
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- SETUP RECOMMENDATIONS: Use lifting aids and proper lifting techniques when moving or assembling to avoid injury and physical damage, as the bike is extremely heavy. Its compact 4' x 2' footprint is smaller than your average yoga mat. Allow 24" of clearance on all sides and a minimum 8' ceiling height for safe setup and use. Pair a compatible heart rate monitor. Power Requirements 100 V to 240 V 50 Hz to 60 Hz 1.3 A Max. WiFi is requried.
What did Foley’s transition agreement provide?
Peloton’s September 2022 Form 8-K disclosed terms of a Founder Transition Agreement. It preserved Foley’s non-change-in-control severance benefits, provided for company-paid health continuation coverage for up to 18 months, and allowed him to exercise stock options through June 30, 2025. The agreement also imposed one-year non-compete, non-solicitation, and standstill restrictions. These are terms disclosed in the 2022 filing, not a statement about Foley’s current benefits, options, or restrictions.
What Foley and Peloton said
Foley said he was leaving Peloton “in good hands,” expressing confidence in its leadership team and board. He also referred to the company’s upcoming rower. Incoming chair Karen Boone thanked Foley and co-founder Hisao Kushi for their vision and commitment, and said their impact would continue after their departures. The statements accompanied Peloton’s September 12, 2022 announcement.
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- PERSONALIZED FITNESS PLANS: Find nonstop motivation with tailored weekly workout routines and personalized class recommendations based on your recent workouts and fitness goals. Performance estimates help you track progress and see how far you've come and how far you can go
- VALUE-PACKED MEMBERSHIP: A Peloton All-Access Membership ($49.99/month) unlocks all Peloton content and applicable features on your Peloton hardware. Enjoy live and on-demand classes, personalized guidance, and weekly recommendations tailored to your goals, to help you and your entire household create a balanced fitness routine
- 23.8" FULL HD SWIVEL TOUCHSCREEN: 360° of movement unlocks infinite ways to train. Seamlessly move from 15+ workout types like cardio, strength training, yoga, Pilates, and barre. In-workout metrics like heart rate, output, cadence, and resistance. Resistance knob automatically adjusts to match instructor recommendations
- BUILT FOR COMFORT & PERFORMANCE: Measures 54” L x 60” H x 22” W and supports riders from 4'11" to 6'5" up to 297 lbs. Features adjustable seat and handlebar positions, a tilting screen, Bluetooth 5.2 connectivity, USB-C charging, front-facing speakers, and a redesigned seat for improved comfort
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- PERSONALIZED FITNESS PLANS: Find nonstop motivation with tailored weekly workout routines and personalized class recommendations based on your recent workouts and fitness goals. Performance estimates help you track progress and see how far you've come and how far you can go
- VALUE-PACKED MEMBERSHIP: A Peloton All-Access Membership ($49.99/month) unlocks all Peloton content and applicable features on your Peloton hardware. Enjoy live and on-demand classes, personalized guidance, and weekly recommendations tailored to your goals, to help you and your entire household create a balanced fitness routine
- 23.8" FULL HD SWIVEL TOUCHSCREEN: 360° of movement unlocks infinite ways to train. Seamlessly move from 15+ workout types like cardio, strength training, yoga, Pilates, and barre. Auto resistance automatically adjusts to match instructor cues. On screen metrics include cadence, output, and resistance in real time
- SETUP RECOMMENDATIONS: Measures 54” L x 60” H x 22” W and supports riders from 4'11" to 6'5" up to 297 lbs. Features adjustable seat and handlebar positions, a tilting screen, Bluetooth 5.2 connectivity, USB-C charging, front-facing speakers, and a redesigned seat for improved comfort. Power Requirements 100 V to 240 V 50 Hz to 60 Hz 1.7 A Max. WiFi is required.
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