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AP National Business

Peloton shares up after departure of co-founders announced

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Published 6:18 AM

By MICHELLE CHAPMAN
AP Business Writer

Shares of Peloton are rising before the opening bell a day with co-founders John Foley and Hisao Kushi stepping down as sales falter. Foley stepped down as executive chair on Monday. Kushi will depart from his role as chief legal officer on Oct. 3. The manufacturer of high-end stationary bikes and treadmills is trying to reshape its business, which boomed during pandemic lockdowns but has dropped off dramatically as restrictions are eased. The company recorded its only profitable quarters during the pandemic.

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