Peloton has appointed Megan Imbres as the new Chief Marketing Officer, marking the fourth change in marketing leadership since 2020. At the same time, the struggling fitness company is creating a new role with the position of Chief Technology Officer, with a clear focus on artificial intelligence.
Imbres comes from Apple, where she was recently the Managing Director of the Marketing Communication Team in Los Angeles. Before that, she held senior positions at Amazon Ads and the short-lived streaming service Quibi. At Peloton, she succeeds Lauren Weinberg, who left the company after only 16 months.
The new appointment comes during a phase of massive cost-cutting measures. Peloton reduced its marketing and advertising expenses to $61 million in the third quarter of the current fiscal year—a decrease of 46 percent compared to the previous year. This measure is part of the strategy to make customer growth more efficient.
At the same time, Peloton has appointed Francis Shanahan as its first Chief Technology Officer. Shanahan was previously Senior Vice President for Connected Fitness Software and has been with the company since 2021. He now takes over overall technical responsibility and is expected to drive AI initiatives in direct customer contact.
Despite declining demand following the pandemic-driven surge, current figures indicate a slight easing: The net loss in the third quarter amounted to $47.7 million, compared to a deficit of $167.3 million in the same period last year.