The head of marketing at Peloton is leaving the company. This comes just a few weeks after the company’s other top executives also left.
Dara Treseder, whose final day of employment will be on October 4, is departing for a position at Autodesk. She supervised marketing and membership at Peloton, reporting to CEO Barry McCarthy following the resignation of the company’s chief commercial officer, Kevin Cornils. The news follows the resignation of co-founder and former CEO John Foley from his role as board chair earlier this month.
Since assuming the role of CEO in February, McCarthy has worked to revitalize the faltering company’s operations and boost cash flow through increasing subscription income. After flourishing during the early days of the coronavirus outbreak when gyms closed, Peloton has been incurring significant losses as it attempts to increase its client base and regain investor trust.
Treseder, Peloton’s senior vice president of marketing, communications, and membership, supervised the launch of a $3,195 rowing machine and a worldwide bike rental program in September. She oversaw Peloton’s development into Australia as well as its ties with Beyonce and Usain Bolt.
Treseder, who has previously directed marketing teams at Apple and Goldman Sachs, will become Autodesk’s chief marketing officer. Peloton stated that it will seek a candidate for the newly formed position of chief marketing officer.
Mr. Foley had been the brand’s public face since its inception in 2012; Ms. Treseder referred to him as “the finest of all time.” Peloton said earlier this month that Hisao Kushi, another business founder and chief legal officer, will leave the firm on October 3.
Bigger reorganization in Peloton is going on
Ms. Treseder’s departure coincides with a bigger reorganization. The epidemic darling of at-home exercises had to slow its fast development over the previous year as demand waned once lockdown measures were lifted.
In an effort to revitalize the company, Peloton appointed Barry McCarthy, the former chief financial officer of Spotify, as its CEO in February. Since then, McCarthy has concentrated on reducing expenses and overhauling the subscription model.
Peloton has laid off employees, announced plans to close stores, outsourced production, and is now selling bicycles on Amazon. Peloton posted a $1.2 billion loss in the fourth quarter, its sixth consecutive quarterly loss, and its shares are down 75 percent for the year.
Marketing is essential to the company’s recovery strategies. The epidemic made Peloton’s exercise bikes a household brand, but once gyms reopened and demand decreased, sales plunged.
