Peloton has hired a new Chief Financial Officer (CFO). Liz Coddington will replace Jill Woodworth, who has served as CFO since 2018 and recently decided to step down. Peloton founder and former CEO John Foley shared a statement via Twitter thanking Woodworth:
Thank you Jill Woodworth for four incredible years as the CFO of @onepeloton! Working with you was a joy and privilege. I sincerely enjoyed every minute.
With the utmost professionalism and intelligence, you guided Peloton through its biggest milestones — from creating the connected fitness category & leading the Peloton IPO to building and scaling the global finance function.
We are grateful for your huge contributions, most notably building a world-class team of incredible Finance professionals (and good human beings). You should be proud. We wish you the very best as you begin your next chapter. Again, THANK YOU!
According to PR Newswire, Woodworth will remain with Peloton as a consultant during the transition. Incoming CFO Liz Coddington will begin her role on June 13. Peloton CEO Barry McCarthy shared a statement welcoming Coddington to the team:
“Liz is a deeply talented finance executive and will be an invaluable addition to Peloton’s leadership team. Having worked at some of the strongest and most recognizable technology brands, she not only brings the expertise needed to run our finance organization, but she has a critical understanding of what it takes to drive growth and operational excellence. I have seen her intellect, abilities, and leadership firsthand and am excited to work closely with her as we execute the next phase of Peloton’s journey.”
Coddington has more than 20 years of experience, most recently with Amazon Web Services (AWS). She has also worked for Adara, Walmart.com, and Netflix (where new Peloton CEO McCarthy was previously CFO). Coddington received her Bachelor’s degree from the Massachusetts Institute of Technology (MIT) and holds an MBA from the University of North Carolina (UNC) at Chapel Hill.
A new Peloton SEC filing shows that Coddington will receive a $1 million salary per year, along with a $9 million stock option grant to start.
This is the third C-suite hiring following February’s company-wide shakeup. Back in March Peloton announced a new Chief Supply Chain Officer and Chief People Officer.
Want to be sure to never miss any Peloton news? Sign up for our newsletter and get all the latest Peloton updates & Peloton rumors sent directly to your inbox.