Peloton hired Nick Caldwell as chief product officer, effective November 1, 2023. Peloton said Caldwell is a Silicon Valley veteran with over 20 years of global leadership experience. The company also remarked that Caldwell joins the company with “a proven track record of building and scaling products and services that excite customers, drive business growth and deliver impact.”

“I want to thank Tom [Cortese] for his tireless dedication since launching Peloton nearly 12 years ago as a co-founder of the business. We simply wouldn’t be here today without his contributions,” said McCarthy. “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.”

As Co-founder and CPO, Cortese helped push Peloton into new areas of fitness and innovation. As of November 1, 2023, he will move into an advisory role with the company, continuing to support its vision and growth.

“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 Cortese. “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.”