Activist investors want Peloton Interactive Inc. to dismiss the CEO and consider selling it after the exercise bike maker’s share price plummeted by more than 80% from its highs as growth slowed. Blackwells Capital LLC owns less than 5% of Peloton’s significant stake. PTON,+ 11.73%CEO John Foley has been dismissed from the company’s board of directors and is preparing to pursue a sale, according to people familiar with the matter. The company believes Peloton could be an attractive acquisition target for large technology and fitness-minded companies.

Source: Wall Street Journal January 24, 2022 02:07 UTC