Peloton named Sid Thacker as its new chief financial officer on Tuesday as the company surges forward with its ongoing revamp back toward profitability.
“This is a pivotal time for Peloton as we are now operating from a place of strategic optionality and playing offense. Sid brings the financial acumen, forward-looking strategy, and deep consumer focus we need to drive our next chapter,” Peloton CEO and president Peter Stern said. “He knows how to grow a business with multiple revenue streams, and he brings the financial discipline to make sure we do it right. Plus, his background as an investor gives us a unique edge as we look to accelerate innovation and grow our impact.”
Thacker led a financial and operational turnaround at Rent the Runway as its CFO from 2023 to 2026 where he was integral in boosts in revenue and subscriber growth. He will now oversee operational strategy at Peloton at a time when the company is deep into reviving the brand, stabilizing subscribers and helping with the company’s recent pivot into AI-fueled fitness products along with its push of a new line of commercial gym equipment.
“Having spent decades looking at businesses as a finance leader and as an investor, I’m excited by Peloton’s many strategic assets, from its iconic brand and unmatched instructors to its deeply loyal global community,” Thacker said. “I look forward to working with the entire Peloton team to build on the current momentum and discipline, sharpen execution, and usher in a new chapter of profitable growth.”
He will officially take on the role on June 22 and replaces interim CFO Saqib Baig while reporting to Stern in New York. According to regulatory filings, Thacker’s compensation package includes a $635,000 base salary with a yearly cash bonus targeted at 60 percent of his earnings. He is also eligible to receive initial equity awards valued at $8 million.
But Thacker arrives at a time of transition for Peloton, which trimmed 11 percent of its workforce in February and primarily impacted engineering teams and individuals working on enterprise-related operations. It’s unclear how many roles were cut but in its annual filing for the fiscal year 2025 it was noted that more than 2,600 people were employed at the company.
Still, the moves are part of Stern’s aggressive approach to steering the maker of fitness bikes, treadmills and other workout equipment back toward a path of stability after the brand saw a staggering 94 percent side of its stock price since the height of the Covid-19 pandemic.
Early this month, Peloton raised its full-year outlook after detailing in its third quarter earnings report that it saw a one percent rise in revenue over the same point last year. Profit per subscription increased despite a drop in memberships.
The company posted $630.9 million revenue and best analyst estimates that predicted $617.6 million even as Peloton continues to bank on evolving newer ventures like a recent Spotify partnership that was announced in April.
Fiscal year 2026 revenue is now expected to reach $2.42 billion to $2.44 billion, up from its original forecast floor of $2.4 billion — but still a 2 percent drop from 2025.
