Peloton CEO Delivers 10 Intriguing Business Principles For Employees
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Peloton tapped Barry McCarthy, 68, as its new chief executive officer last week after replacing founder John Foley. McCarthy – who has held senior leadership roles at Spotify, Netflix, and Instacart – provided some business principles to employees of Peloton.
Shortly after becoming the CEO of Peloton, McCarthy sent an email to employees which provided insights into his advice for success. In the email, McCarthy said he was “here for the comeback story,” alluding to the rise and fall of Peloton. He reportedly provided values that were “reflected in my day-to-day interactions.”
“We have to be willing to confront the world as it is, not as we want it to be if we’re going to be successful,” McCarthy wrote, according to CNBC.
“If you thought today’s news meant John [Foley] would be scaling back his involvement with Peloton, then let me assure you … I plan on leveraging every ounce of John’s superpowers as a product, content, and marketing visionary to help make Peloton a success as my partner.”
McCarthy wrote, “And now that the reset button has been pushed, the challenge ahead of us is this … do we squander the opportunity in front of us or do we engineer the great comeback story of the post-Covid era?”
McCarthy sent 10 business principles for Peloton employees:
- Be stubborn on vision, flexible on details
- Fast is as slow as we go
- Intuition drives testing. Data drives decision making
- Your comfort zone is your own worst enemy
- Talent density is foundational
- Stress context not control, freedom and responsibility
- Understand in order to be understood
- Get real
- Think from first principles
- Put first things first
When asked about whether or not McCarthy felt he as if he would fail as CEO of Peloton, he told the Financial Times.
“If I thought it was likely that the business was going to be acquired in the foreseeable future, I can’t imagine it would be a rational act to move across the country,” said McCarthy, who is moving from California to New York to lead the exercise equipment company. “There are lots of other things I could be doing with my time that are quite lucrative than hanging out with a business that’s about to be sold.”
[Photo by Ivan Samkov from Pexels]