Peloton's CEO throws in the towel after rocky turnaround attempt

Photo: Business Chief

Barry McCarthy, the outgoing CEO of Peloton Interactive Inc., is stepping down after a tumultuous two years at the helm. Lured out of retirement following successful CFO tenures at Netflix and Spotify, McCarthy faced a daunting task: rescuing Peloton from the brink of collapse.

McCarthy's efforts included significant cost-cutting measures like job reductions and outsourcing, a leadership overhaul, and a strategic shift towards fitness services over hardware sales. However, these maneuvers proved unsuccessful.

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Peloton brings back basic running mode to all its users

Source: Peloton

Following several accidents on the Tread+ treadmill, Peloton temporarily moved its basic running mode of the machine behind its subscription service, which means non-authorized users won't be able to make it run. Now, an update will allow all users to access the Just Run feature without a subscription while still locking it up with a pin code. The Tread Lock feature locks the device if it hasn't been used in 45 seconds or you aren't in a class. It ensures that inexperienced users—especially children—won't get to access them. Twenty-nine cases were reported of injuries to children, including second- and third-degree abrasions and broken bones.

After the reports of injuries and one death, Peloton had to issue a recall of its Tread and Tread+ treadmills in the US and Canada. The company also implemented the passcode at that time for the basic running mode, but it was only available to subscribers. To offset that cost, Peloton gave users a free subscription for three months, with the promise of the update that's now rolling out. As part of the recall in the US, Tread+ owners can get a full refund if they decide to return their treadmills by November 6, 2022.

Source: Engadget

Peloton Sessions will offer smaller, scheduled classes with friends

Source: Peloton

Peloton is improving its Sessions feature by giving you the option to workout with smaller groups. The upgrade allows you to schedule these classes now, with the extra benefit of exercising with friends. You can schedule Sessions from Peloton's iOS app. It includes runs and rides that last upwards of 20 minutes. All you have to do is pick a class, select the date and time, and invite friends by sharing the link with friends. Five minutes before the course, you'll get a notification on your bike or tread. If you don't have friends who use Peloton, it's still possible to join the smaller, on-demand sessions.

Source: Engadget

New Peloton Bike+ and the Peloton Tread are coming to Canada

Looks like many of us are going to continue to work from home and with that comes the winter months of more indoor time. Now that we're in a groove and have all our technology at home working well it may be the ideal time to sort out our fitness goals—hey, who else gained that "COVID-19" lbs? All that baking has us wondering if we'll ever get out of our lounge wear. If you've been contemplating getting a Peloton you might be interested in the latest news (and pricing). 

Peloton, the world's largest interactive fitness platform, announced the introduction of the new Peloton Bike+ and the Peloton Tread in Canada, growing its portfolio of immersive connected fitness products and experiences. The Peloton product suite now includes the original Peloton Bike, the Peloton Bike+, and the new Peloton Tread, coming in early 2021. The Peloton Bike+ will be available starting on September 9, along with the new price for the original Peloton Bike. See their site for pricing breakdown. 

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