Peloton Restructures Marketing, CMO Departs

Peloton CMO Departs Amid Marketing Restructure

Peloton Interactive's CMO, Lauren Weinberg, has left the connected fitness company. This departure comes as Peloton restructures its marketing organization, splitting the CMO role into two distinct positions: CMO and chief communications officer. Both roles will report to CEO Peter Stern.

Weinberg joined Peloton in January 2024 from Intuit, where she led marketing for QuickBooks. Stern, who joined Peloton in October, will lead marketing efforts while the company searches for suitable candidates to fill the newly created positions.

Executive Turnover and Marketing Challenges

Weinberg's short tenure continues a trend of executive turnover at Peloton. The company has faced challenges navigating the post-pandemic fitness landscape. Her predecessor, Leslie Berland, also served for less than a year. Additionally, Peloton's Vice President of Global Communications, Letena Lindsay, a seven-year veteran, is also departing, though this departure is unrelated to the marketing restructure.

During Weinberg's time at Peloton, she oversaw several marketing initiatives. These included a fall campaign targeting millennial men featuring the NFL's Watt brothers, aiming to expand Peloton's user base beyond its predominantly female membership. Another initiative was a Super Bowl partnership with Coors Light, promoting post-game workout classes.

Peloton's Evolving Strategy

Peloton has been working to diversify its offerings beyond its core cycling product. The company has expanded into strength training, yoga, and other exercise programs, many of which don't require its expensive hardware. This diversification aims to address increasing competition from app-based fitness startups.

While diversification efforts have shown positive results, Peloton continues to focus on profitability, particularly within its hardware segment. Improving marketing efficiency and cost reduction have been key priorities. Sales and marketing expenses decreased 34% year-over-year in Peloton's fiscal Q2. Stern noted Weinberg's efforts to improve media mix modeling and balance performance marketing with brand-focused campaigns.