Activist investor Blackwells Capital to call on Peloton to fire CEO -WSJ

FAN Editor 2 years ago
A Peloton logo is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City
FILE PHOTO: A Peloton logo is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. REUTERS/Shannon Stapleton

January 24, 2022

(Reuters) – Activist investor Blackwells Capital LLC is preparing to push Peloton Interactive Inc’s board to fire Chief Executive Officer John Foley and explore a sale of the exercise bike maker, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Blackwells Capital believes Peloton could be an attractive acquisition target for larger technology or fitness-oriented companies, according to the report.

Peloton and Blackwells Capital did not immediately respond to Reuters’ requests for comment.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Christopher Cushing)

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