Peloton Replaces CFO In Latest Hail Mary Play
Peloton is replacing current chief financial officer, Jill Woodworth, with former Netflix and Amazon executive Liz Coddington, in a last ditch bid to turn around the company’s flagging financials.
The changeover will occur on June 13. Woodworth will stay on as an interim consultant. She served as CFO since 2018.
“Liz is a deeply talented finance executive and will be an invaluable addition to Peloton’s leadership team,” said Peloton CEO Barry McCarthy in a statement.
“Having worked at some of the strongest and most recognisable technology brands, she not only brings the expertise needed to run our finance organisation, but she has a critical understanding of what it takes to drive growth and operational excellence.
“I have seen her intellect, abilities and leadership firsthand and am excited to work closely with her as we execute the next phase of Peloton’s journey.”
McCarthy has only served as CEO since February, and also came from Netflix. Upon McCarthy’s appointment, the company shed 20 per cent of its corporate workforce.
Peloton’s financial results, released last month, showed that last quarter losses hit A$1.05 billion.