Peloton Commercial Vice President Betsy Webb is stepping down from the role she has held since 2021 and will hand over to the new interim CEO, turnaround specialist Dustin Grosz, on Jan. 6, 2023.
Industry insiders see the move as an indication that Peloton is preparing to streamline and sell Precor. Dustin Grosz has about 30 years of experience in the fitness equipment industry, including as president and COO of Core Health and Fitness, where he restructured the $180 million-a-year company.
The sale of Precor would be in line with Peloton's current turnaround strategy and allow the company to focus on its core business.
Peloton acquired Precor in 2021, paying $420 million for the company. Peloton acquired not only Precor's product portfolio, but also 625,000 square feet of factory space in the U.S., a 100-person research and development team.
Source and image source: BODYMEDIA
Published on: 27 December 2022