Peloton hires former Twitter executive as new head of marketing

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

Patrick T Fallon | Bloomberg | Getty Images

Platoon is hiring Leslie Berland, Twitter’s former head of marketing, as its next chief marketing officer, effective Wednesday.

Berland left Twitter in November amid a large number of executives leaving following the Elon Musk acquisition, which has led to significant restructuring and revenue declines at the social media giant. She previously helped lead marketing at American Express for 10 years.

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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 September in a broader executive exodus.

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

Peloton is trying to turn the tide after a rough 2022, when the stock fell more than 75%. The company posted larger losses in November than analysts had expected for the first fiscal quarter.

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

In his first year as CEO, McCarthy has overseen malfunctioning treadmill recalls, mass layoffs and major leadership shifts — all while trying to return the pandemic treasure to profitability. Shares hit a high of $167.42 in January 2021 and are now trading at around $11.

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

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

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

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

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