Earlier last week Peloton released their latest 10-Q filing, their quarterly financial performance report. In case you missed it, you can read about the results of Peloton’s Q1 2023 earnings call in our overview article.
Contained in the form was a detail that Chief Accounting Officer (CAO) Allen J. Klingsick will depart his role effective November 15, 2022. The filing states:
On November 2, 2022, the Company and Allen J. Klingsick agreed that Mr. Klingsick would step down from his position as Chief Accounting Officer and Principal Accounting Officer of the Company, effective November 15, 2022 (the “CAO Transition Date”). Mr. Klingsick will provide certain consulting services to the Company through February 18, 2023, supporting the Company in the reporting of its second quarter of fiscal year 2023 financial results, among other functions. Mr. Klingsick’s departure is not the result of any disagreement with the Company on any subject, including its operations, policies or practices.
Klingsick will be replaced by Saqib Baig, who will be joining Peloton from Meta. Baig also previously worked for Colgate-Palmolive Co., General Electric, PricewaterhouseCoopers, Ernst & Young, and Deloitte. He will assume the role of Chief Accounting Officer and Principle Accounting Officer on November 15.
This is yet another addition to what is becoming a very long list of executive changes over the past couple of months. In September it was announced that co-founder and former CEO John Foley was leaving the board, and co-founder and Chief Legal Officer Hisao Kushi was leaving the company. We now know that both of them will be working at John Foley’s new rug startup. Later in the month it was announced that Chief Information Officer (CIO) Shobhana Ahluwalia was leaving Peloton, followed by SVP and Global Head of Marketing Dara Treseder. Just last month Chief People Officer Shari Eaton announced her departure as well.
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