Apple Fitness+ Co-founder Appointed as Peloton CEO

Peter Stern comes to Peloton with an extensive background in subscription-based businesses

Peloton has named Peter Stern, Apple Fitness+ co-founder, as its new president and CEO. The announcement comes on the heels of Peloton’s Q1 2025 earnings, beating Wall Street’s estimates and causing shares of PTON to jump.

Stern currently serves as president of Ford Integrated Services and has held leadership roles at Apple and Time Warner Cable. He assumes the new role at the connected fitness giant on January 1, 2025. Peloton is expected to appoint Stern to the board.

He succeeds interim co-CEOs and co-presidents Karen Boone and Chris Bruzzo, who took over following former CEO Barry McCarthy’s exit in May.

“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,” Peloton board chairperson Jay Hoag said in a statement. “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.”

Hoag added that Stern, who has a JD from Yale Law School, embodies the connected fitness company’s core values.

“We hope the entire Peloton community shares our excitement and looks forward to working with Peter as we lead Peloton into the future and unlock long-term value for all our stakeholders,” Hoag continued. 

Boone will now serve as sole interim CEO and president through the end of the year. Bruzzo will step down as interim co-CEO and president on November 1. Both will remain members of the Peloton board. 

Peloton noted that Stern has been a member of its fitness community since 2016, is an “early adopter” of its signature Bike and Tread and is the son of a fitness instructor. 

“Working for Peloton is a dream come true for me,” Stern said of his new role heading the storied connected fitness company. “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. I am excited to link arms with our dedicated Lead Team. I am awestruck to personally get to know our talented instructors. And I am humbled to work alongside our thousands of purpose-driven team members to change even more lives for the better. Finally, I am grateful to the Peloton board for entrusting me with this responsibility and giving me the chance to take Peloton and its members to even greater heights.”

Peloton execs noted on today’s earnings call that the company is entering the holiday season with “cautious optimism.” The brand recently teamed with Costco as part of its third-party relationship push and is working with Truemed to offer its signature connected fitness equipment as a qualifying HSA/FSA purchase.