Peloton’s latest 10-Q filing was released last week, along with their quarterly financial performance report.
The form contained a detail that Allen J. Klingsick, Chief Accounting Officer (CAO), will be leaving his position effective November 15, 2022. According to the filing:
The Company and Allen J. Klingsick reached an agreement on November 2, 2022 that Mr. Klingsick would resign as Chief Accounting Officer and Principal Accountant of the Company. This will be effective November 15, 2022 (the “CAO transition date”). Through February 18, 2023, Mr. Klingsick will continue to provide consulting services for the Company, including support in reporting the Company’s second quarter financial results of the fiscal year 2023. The Company does not have any disagreements with Mr. Klingsick on any topic, including operations or practices.
Klingsick will now be replaced by Saqib Baigh, who will join Peloton from Meta. Baig also previously worked for Colgate-Palmolive Co., General Electric, PricewaterhouseCoopers, Ernst & Young, and Deloitte. On November 15, he will take over the roles of Chief Accounting Officer, and Principle Accounting Officer.
This is just one more in a long line of executive changes that have occurred over the last few months. It was announced in September that John Foley, co-founder and former CEO of the company, was leaving the board. Hisao Kushi, co-founder and Chief Law Officer of the company was also leaving. Now, we know that John Foley will be joining John Kushi’s new rug startup. Later that month, Shobhana Ahluwalia, Chief Information Officer (CIO), was announced as leaving Peloton. Dara Treseder, SVP and Global Head for Marketing was also announced. Shari Eaton, Chief People Officer, announced her resignation last month.
The complete file can be viewed here.
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