Peloton names Peter Stern as new CEO

Investing.com -- Peloton (NASDAQ: PTON) has named Peter Stern as its new CEO, ending a long-running search for a successor to former boss Barry McCarthy, as the connected fitness bike company looks to overhaul its flagging subscription growth.

Shares in Peloton surged by more than 8% in premarket US trading on Thursday.

(This is a developing story. Please check back later for updates.)

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