Peloton announced today that Chief Financial Officer Liz Coddington will be departing the company after a four-year tenure. Her last day will be in March as the company searches for her replacement.
The announcement came alongside Peloton’s Q2 FY2026 earnings release this morning. In that release, Peloton stated Coddington was leaving to “pursue an opportunity outside the industry.”
We now know what that opportunity is: Coddington has been named the new CFO of Palmetto, a consumer energy platform focused on solar, storage, HVAC, and other clean energy solutions for homeowners. She will start in that role on March 30th, 2026.
Coddington joined Peloton in early 2022, taking over the CFO role during a turbulent time for the company. She has led Peloton’s finance organization through significant restructuring efforts, multiple rounds of layoffs, and the company’s ongoing transformation toward profitability.
In a press release, CEO Peter Stern praised Coddington’s contributions, saying:
“Liz has played a vital role in Peloton’s continued transformation and I want to thank her for her partnership, dedication, and tireless work in architecting Peloton’s financial turnaround. 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. In so doing, she has helped clear the path for us to move beyond connected fitness to realize our ambition in connected wellness.”
Coddington also released a statement, saying:
“I’m proud of the work we’ve done over the past four years to improve our financial profile, put in place a winning strategy, and position the business for the future. I’m confident that Peloton’s brightest days are ahead and I look forward to seeing the company realize its full potential with the strong team in place under Peter’s leadership.”
During her time at Peloton, the company has shifted its focus from growth-at-all-costs to financial sustainability. The Q2 results released today showed continued progress on that front, with Adjusted EBITDA up 39% year-over-year and net debt reduced by 52%.
Before Peloton, Coddington served as Vice President of Finance at Amazon Web Services and held senior finance roles at Walmart.com, Adara, and Netflix.
Peloton has initiated a search for Coddington’s replacement. In the meantime, she will remain in her role through March to ensure a smooth transition.
Notably, Stern’s statement referenced Peloton’s ambition to “move beyond connected fitness to realize our ambition in connected wellness” – language that hints at the company’s broader strategic direction under his leadership.
CEO Peter Stern, who took over the top job in January 2025, will now continue to build out his leadership team with the new CFO.
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