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Peloton Interactive has appointed a new executive to be its chief financial officer. It was revealed that the exercise equipment and media firm hired the former executive at Amazon Web Services.
According to CNBC, Peloton announced that its CFO Jill Woodworth is leaving the firm, and Liz Coddington will take over her role as the company's new financial chief. This is said to be part of Peloton's latest shake-up in the top-ranking personnel.
Peloton made the announcement about Woodworth's departure on Monday, June 6. She will be the latest high-ranking executive to vacate her post from the fitness company. Earlier this year, Barry McCarthy, a former Netflix and Spotify CFO, was assigned to be Peloton's new chief executive officer.
The new chief replaced John Foley at a time when the company was facing many difficulties, including declining demand and rising costs. The new chief went to work immediately and launched an aggressive restructuring plan for the company to get back on track.
"Liz is a deeply talented finance executive and will be an invaluable addition to Peloton's leadership team," Peloton's CEO said in a press release. "Having worked at some of the strongest and most recognizable technology brands, she not only brings the expertise needed to run our finance organization, but she has a critical understanding of what it takes to drive growth and operational excellence."
McCarthy went on to say, "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. I would like to thank Jill for four years of dedicated service."
The Peloton chief also thanked the outgoing CFO, Jill Woodworth, for her service. He said that the company wishes her well in the next phase of her career. Peloton will always be grateful for her contributions and everything else she has done for the company.
Meanwhile, the new CFO, Liz Coddington, previously worked at Netflix and Walmart. She has been at Peloton since 2018 but only served as a consultant on an interim basis at that time.
