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Peloton Interactive, Inc. (NASDAQ: PTON) today announced changes to its leadership team.

The company has accepted the resignations of John Foley as Executive Chair and Hisao Kushi as Chief Legal Officer, effective September 12, 2022 and October 3, 2022, respectively.

John Foley co-founded Peloton in 2012 and is credited with leveraging his tech and business experience to build the company into the largest interactive fitness platform in the world. Having previously been the company's CEO for 10 years, he became Executive Chair in February 2022. He is largely viewed as the pioneer who was the driving, creative force behind today's global connected fitness industry.

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.

Hisao Kushi was a co-founder of Peloton and played a key role in the company's growth and global scale. He has served as the company's Chief Legal Officer since 2015. Over the course of his tenure, Kushi guided the execution of the company's M&A activities, crafted the novel music license deals which are the backbone of the Member experience, and protected emerging IP that ultimately shapes today's connected fitness industry.

Tammy Albarrn will replace Kushi as Chief Legal Officer and Corporate Secretary for Peloton, effective October 3, 2022. In her new role, Albarrn will manage the Legal, Compliance, and Policy functions. Albarrn 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, Albarrn oversaw Uber's global legal teams and was a driving force behind the company's cultural transformation. Albarrn was also a key champion of the company's diversity, equity, and inclusion efforts. Prior to Uber, Albarrn was a securities litigation and investigations Partner at Covington & Burling LLP, working alongside former Attorney General Eric Holder. Together, Albarrn and Holder co-authored the high-profile report that resulted in profound changes at Uber.

Peloton's incoming Chairperson of the Board, Karen Boone, said, "We are immensely grateful to John and Hisao for having the vision, ambition, and commitment to turn Peloton into the iconic consumer brand it is today. Not only did they succeed in building a great company, they transformed an entire industry by leveraging fitness and technology. Their impact will resonate long after their departure."

Peloton co-founder and former Executive Chair John Foley said, "As I reflect on the journey Peloton has been on since we founded it, I am so proud of what we have built together. From day one, the incredible talent we've had on our team and the dedication, hard work, and creativity of every Peloton employee are what got us to where we are today. We founded the company because we wanted to make fitness and wellness convenient, fun, and effective. Because of the work of thousands of people, we've done that.

Now it is time for me to start a new professional chapter. I have passion for building companies and creating great teams, and I am excited to do that again in a new space. I am leaving the company in good hands: The Leadership Team with the support of the Board is going to take Peloton to the next level as a company, and I am happy to know our Members are going to continue to be surprised, delighted, engaged, and excited about everything that is in store (looking at you, rower!).

Goodbyes are never easy, but I don't view this as goodbye. I will always be a Peloton Member and a passionate advocate for our mission. So until we meet again, stay safe and strong. And I'll see you on the leaderboard."

Peloton CEO Barry McCarthy 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."

McCarthy continued, "I would also like to congratulate Karen and Tammy, and I'm confident both will leverage their unique experiences to help move the company forward into our next chapter of growth."

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Peloton (PTON) has accepted the resignations of John Foley as Executive Chair - StreetInsider.com