Exercise bike maker Peloton Interactive Inc said on Monday its CFO – Jill Woodworth, is leaving the company and will be replaced by Liz Coddington – an executive at Amazon Web Series, effective next week.
The handover follows another departure of top boss John Foley by former Spotify Technology and Netflix Inc. Peloton earlier this year appointed Barry McCarthy comes at a time when the company is struggling with a cash crunch. He has brought the company on an aggressive cost-restructuring plan that in part emphasizes recurring subscription revenue.
“Liz is a deeply talented finance executive and will be an invaluable addition to Peloton’s leadership team. 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. I have seen her intellect, abilities, and leadership first hand and am excited to work closely with her as we execute the next phase of Peloton’s journey,” McCarthy said in a release.
Coddington previously held roles as the Vice President of Finance for Amazon Web Services, and senior roles at companies including Walmart Inc. & Netflix.
Additionally, Jill Wodworth who has been with the team since 2018, will serve as a consultant for Peloton on an interim basis.