New York (CNN Business) The knives are out for Peloton and CEO John Foley. Blackwells Capital, an activist investor that owns less than 5% of Peloton, says it has "grave concerns" about its performance and is calling on its board of directors to fire Foley immediately and explore a sale. Peloton CEO John Foley. They include his pricing strategy (Peloton cut the price on its Bike and Tread in August 2021, only to raise them again months later ), his handling of the treadmill recall and a purported temporary shutdown of production. Blackwells also slammed Foley for hiring his wife as a key executive.

Source: CNN January 24, 2022 20:59 UTC