Blackwells Sends Letter to Peloton Board of Directors, Calling for New Leadership and Initiation of Strategic Alternatives
Shareholder Wants Peloton to Consider Selling the Company
Activist investor Blackwells Capital is asking Peloton to remove CEO John Foley and consider selling the company just a few days after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. In a letter to the board of Peloton Interactive Inc., Blackwells Chief…
Read MorePeloton Should Fire CEO, Explore Sale Over ‘Mismanagement’: Activist Investor
Peloton Stock Jumps as Blackwells Pushes for CEO Ouster, Sale
Jan 24 (Reuters) – Peloton Interactive Inc’s (PTON.O), opens new tab stock surged on Monday after investment firm Blackwells Capital urged the exercise equipment maker’s board to fire its chief executive and put the company up for sale. The company’s shares climbed nearly 10% to close trading at $29.71 after having dropped 3.4% in premarket trading on…
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