Back in October 2023, The Blue Oval has recruited former Apple veteran Peter Stern to serve as the president of the newly formed Ford Integrated Services division, which was conjured up specifically to create and market software-enabled customer experiences across Ford Blue, Model e, and Ford Pro. Stern seems like the perfect fit to lead that effort given the fact that he served as the vice president of services at Apple for more than six years, and was a driving force behind the launch of the tech giant’s expansive portfolio of services, including Apple TV+, Apple News+, Apple Arcade, Apple Fitness+, MLS Season Pass, and Apple One. However, Stern has now departed for a higher role at another company.
That company is Peloton, according to CNBC, which has tabbed Stern to be its next CEO and president. He is slated to step down from his current position at Ford – where he oversees services like BlueCruise and Ford Pro Intelligence – and assume the top role at the fitness company on the first of January, and in the meantime, interim co-CEO Karen Boone will continue to fill the void in that regard as fellow CEO Chris Bruzzo also steps down, though both will remain on the board moving forward.
“Peter is a seasoned strategist with a track record of driving sustainable growth through innovation, and we have every confidence in his ability to lead Peloton during this important time. He brings meaningful expertise in scaling differentiated technology-oriented platforms and has a deep understanding of the health and wellness sector – making him uniquely suited to serve as Peloton’s next CEO,” said Jay Hoag, the Chairperson of Peloton’s board. “What’s more, Peter embodies Peloton’s core values, including operating with a bias for action, empowering teams of smart creatives and working together.”
Stern will be just the third CEO in Peloton’s history since former Spotify and Netflix executive Barry McCarthy stepped down recently after taking over for founder John Foley two years ago. Peloton has been in a bit of a financial bind recently after a red hot start, but the company believes that Stern is the right person to right the proverbial ship, given his experience and the fact that he’s been a Peloton member since 2016. “Working for Peloton is a dream come true for me,” Stern said. “My goal is to help millions of people live longer, healthier and happier lives. Peloton, with its unique combination of people, products and passionate Members, provides me an opportunity to do just that.”
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