Peloton has hired a new Chief Product Officer (CPO). Nick Caldwell will replace Tom Cortese, who is a co-founder of Peloton and has been with the company for nearly 12 years. Peloton published the news via press release:
Today Peloton (NASDAQ: PTON) announced the appointment of Nick Caldwell as Chief Product Officer (CPO), effective November 1, 2023. A Silicon Valley veteran with more than 20 years of global leadership experience, Caldwell joins the team with a proven track record of building and scaling products and services that excite customers, drive business growth, and deliver impact. Caldwell succeeds Peloton Co-Founder, Tom Cortese, and will report to CEO Barry McCarthy, leading global product development.
Caldwell will begin his role with Peloton on November 1, 2023. He previously worked for Twitter as the General Manager for Core Technologies, and also held roles at Reddit, Microsoft, and Looker.
Caldwell is the third C-suite hire from Twitter in 2023 – earlier this year Peloton brought on Leslie Berland as their Chief Marketing Officer (CMO). Berland spent seven years at Twitter. Peloton also hired Chief People Officer Dalana Brand who previously worked at Twitter.
Peloton CEO Barry McCarthy provided the following quote about Caldwell’s hiring:
“Today, I’m pleased to welcome Nick Caldwell as our new Chief Product Officer. Nick brings impressive engineering, design, and product experience to the Peloton team. Nick joins us at an exciting time as we lean into growing our subscriber base online and on our connected fitness hardware.”
Former CPO Cortese will remain in an advisory role for Peloton. According to the press release:
“After nearly 12 years of pouring myself into Peloton and serving our Members, I have decided it is time to move on and create space for new perspectives,” said Tom Cortese, Peloton Co-Founder and Chief Product Officer. “I’m eager for new growth for Peloton and for me personally, but I’m also excited to support and watch this next phase of Peloton’s evolution. I could not be more proud of what we have accomplished, together.”
Peloton also published an 8-K form with the Securities and Exchange Commission (SEC) regarding the hiring.
Tom Cortese was the last co-founder of Peloton who was still with the company.
Cortese posted a message about his departure on LinkedIn, saying:
From a blank sheet of paper more than a dozen years ago, I proudly crafted Peloton’s product portfolio — alongside a loyal team of strategists, creatives, and engineers. We crafted a user experience that simply didn’t exist and used it as the foundation to create an entirely new market segment — Connected Fitness.
Our formula for Product and market success was found in the confluence of a few parts: elegant, timeless hardware; engaging, user-centered software; a diverse cast of instructors who could let their authentic selves shine through; and an aspirational brand with mass appeal. What made this even more powerful is that all of this was wrapped in a fervent community who simultaneously participated in and shaped the Peloton experience.
Through it all, I was humbled time and again by the enormity of each new challenge. But, I was always driven by the special team culture we had. A culture inspired by the symbolism of riding fast in a literal peloton — taking turns pushing the pack and then falling into each other’s slipstream to preserve energy and go further. I was also (and still am today), consistently inspired by the stories of achievement that come from Peloton’s millions of Members. There has been something very special about using my talents joined with the talents of so many others to fuel a positive habit for so many.
Now, as Peloton prepares for its next chapter, new leadership will craft the next generation of experiences. And, as I prepare for mine — I’m looking forward to new challenges, forming new teams of smart creatives, and harnessing all the energy I have to build what’s next…
You can read the full details regarding Peloton’s new CPO in the press release.
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