Peloton 5% Shareholder Says Transform or Sell
The foundering darling of 2020’s at-home fitness boom is facing pressure from activist investor Blackwells Capital LLC to transform into an asset-light, software-based company and sell to a major Big Tech or multi-media player, or Nike. Blackwells issued a presentation Tuesday stating that “two months since Peloton hired one of the highest paid CEOs [Barry McCarthy] in all of corporate America, nothing has fundamentally changed” and that shaping the company’s platforms, instructors and subscriber base into a more efficient model “cannot happen effectively in the public markets, especially with the current leadership in place.”
Blackwells charges that after “$30 billion in ... Log in to view full article.