Peloton CFO Liz Coddington to Depart for Palmetto

Peloton Interactive announced that Chief Financial Officer Liz Coddington will leave the company after a four-year tenure, with her last day set for March 27, 2026. Coddington is transitioning to become the CFO of Palmetto, a consumer energy platform specializing in solar, storage, and HVAC solutions, effective March 30, 2026. The announcement coincided with Peloton's Q2 FY2026 earnings release, where the company stated that Coddington is leaving to "pursue an opportunity outside the industry."

Peloton CFO Liz Coddington Leaving After Four Years; Joining Clean Energy Company PalmettoPeloton CFO to depart amid slumping subscriptionsPeloton’s Q2 FY2026 Earnings: Revenue Misses Expectations as Cross Training Sales Lower Than Expected

Coddington joined Peloton in early 2022 during a challenging period for the company. She played a crucial role in steering Peloton through significant restructuring efforts, multiple layoffs, and a strategic shift towards financial sustainability. Under her leadership, Peloton reported a 39% year-over-year increase in Adjusted EBITDA and a 52% reduction in net debt. CEO Peter Stern acknowledged her contributions, stating, “Liz has played a vital role in Peloton’s continued transformation... she leaves us not only with a better balance sheet but also a renewed sense of financial discipline.”

Peloton CFO Liz Coddington Leaving After Four Years; Joining Clean Energy Company PalmettoPeloton CFO to depart amid slumping subscriptionsPeloton’s Q2 FY2026 Earnings: Revenue Misses Expectations as Cross Training Sales Lower Than Expected

Peloton's Q2 FY2026 earnings report revealed mixed results. While the company improved its profitability, total revenue fell short of both Wall Street expectations and its own guidance, leading to a nearly 25% drop in stock value following the announcement. The company reported a net loss of $38.8 million and a 7% decline in membership subscriptions, totaling 2.6 million. Despite these challenges, Peloton's gross profit increased by 4% year-over-year to approximately $331 million, reflecting ongoing efforts to enhance operational efficiency.

Peloton’s Q2 FY2026 Earnings: Revenue Misses Expectations as Cross Training Sales Lower Than Expected

Critics have raised concerns about Peloton's declining membership and revenue, particularly in light of the recent launch of the Cross Training Series, which did not meet sales expectations. The company has initiated a comprehensive search for Coddington's successor as it continues to navigate these challenges. Stern emphasized the need for a leadership team that can support Peloton's ambition to "move beyond connected fitness to realize our ambition in connected wellness."

Peloton CFO Liz Coddington Leaving After Four Years; Joining Clean Energy Company Palmetto

• “As Liz moves on to her next opportunity, she leaves us not only with a better balance sheet, but also a renewed sense of financial discipline.” — Peter Stern, CEO of Peloton

Peloton CFO Liz Coddington Leaving After Four Years; Joining Clean Energy Company Palmetto

• “As we continue to grow and support our consumers in accessing affordable, reliable energy solutions her strategic discipline, operational rigor and credibility with both consumers and investors will be invaluable,” — Chris Kemper, CEO of Palmetto

Peloton CFO to depart amid slumping subscriptions

Peloton is actively searching for a new CFO to replace Coddington, aiming to solidify its leadership team as it continues to address financial and operational challenges while pursuing its strategic goals in the fitness and wellness sectors.

Peloton CFO Liz Coddington Leaving After Four Years; Joining Clean Energy Company Palmetto