Good morning. Geoff Colvin, senior editor-at-large, here.
Barry McCarthy’s recent abrupt resignation from his role as Peloton’s CEO was a relatively easy succession call: McCarthy was recruited in 2022 to stop the fitness company’s vertiginous financial plunge from its fad-fed pandemic heights, but by the time he resigned, just over two years after he arrived, some 5,000 employees had been dismissed and the stock had dropped from $37 to about $3. He clearly had to go.
