Peloton hires former Twitter executive as new head of marketing

Peloton hires former Twitter executive as new head of marketing


Leslie Berland, chief marketing officer of Twitter Inc., speaks during the company’s #HereWeAre Women In Tech event at the 2018 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Wednesday, Jan. 10, 2018.

Patrick T. Fallon | Bloomberg | Getty Images

Peloton is bringing in Leslie Berland, Twitter’s former marketing head, as its next chief marketing officer, effective Wednesday.

Berland left Twitter in November amid a slew of executive departures after Elon Musk’s takeover, which has led to significant restructuring and revenue drops at the social media giant. She previously helped lead marketing at American Express for 10 years.

Berland will report to Peloton CEO Barry McCarthy and oversee several of the fitness equipment maker’s divisions including marketing, membership and global communications. Former CMO Dara Treseder left the company in a broader executive exodus in September.

Berland said in an announcement Tuesday that she is “thrilled” to join the company at this “unique moment in its transformation journey.”

Peloton is trying to shift the tides after a rough 2022, when its stock dropped more than 75%. The company in November posted wider losses than analysts expected for its first fiscal quarter.

McCarthy, who took the helm in February, said during the first-quarter earnings call that the company’s new strategy for attracting customers and boosting recurring revenue was a “work in progress.”

In his first year as CEO, McCarthy has overseen recalls on defective treadmills, mass layoffs and significant leadership shifts — all as he tries to steer the pandemic darling stock back to profitability. Shares hit a high of $167.42 in January 2021 and are now trading at about $11.

Peloton to cut 500 jobs in last bid turnaround

“As we continue our pivot to growth, showcasing the magic that drives people to Peloton and keeps them so passionate and engaged is essential. [Berland] and the marketing team will play a central role in broadening our reach, appeal, and impact,” McCarthy said in a statement Tuesday.

In August, Peloton struck a deal with Amazon to sell products, venturing out of its traditional direct-to-consumer business model.

McCarthy is also overseeing a gradual rollout of a national bike rental program, which allows customers to rent the company’s bike and subscribe to on-demand workout classes and then return the bike when they want.

The company is also trying to expand its digital app presence, including with a “freemium” model that would allow users to access its content library on third-party hardware.



Source

Craveworthy Brands becomes managing partner of Gregorys Coffee
Business

Craveworthy Brands becomes managing partner of Gregorys Coffee

Gregorys Coffee was founded in 2006 and has more than 50 locations. Source: Gregorys Coffee Craveworthy Brands is now investor and managing partner of Gregorys Coffee, a New York City-based coffee chain with dreams of a nationwide footprint. The two companies announced the deal on Thursday. Financial terms were not disclosed. Craveworthy Brands, a fast-growing […]

Read More
Warner Bros. Discovery film studios lift second-quarter results
Business

Warner Bros. Discovery film studios lift second-quarter results

Warner Bros. Discovery’s earnings got a boost from its film studios after a handful of box office hits during the second quarter. The period from April though June saw the releases of “A Minecraft Movie,” “Sinners,” “Final Destination: Bloodlines,” and “F1,” which together generated $2 billion in the global box office to date, the company […]

Read More
Companies are monitoring and enforcing office attendance at the highest rate in 5 years
Business

Companies are monitoring and enforcing office attendance at the highest rate in 5 years

Maskot | Digitalvision | Getty Images A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight […]

Read More