(Reuters) – Peloton Interactive Inc named former Twitter Inc executive Leslie Berland as Chief Marketing Officer on Tuesday, as the once high-flying connected fitness equipment works to recharge sales amid waning demand.
Berland, who previously served as Twitter’s CMO and Head of People, will assume the role at Peloton from Wednesday, the company said.
Peloton, in recent times, has undertaken a slew of cost-cutting measures and made new executive appointments in a bid to slow cash burn and return to profitability as fitness enthusiasts go back to gyms.
It has tweaked bike prices, offered its products through third-party retailers and focused on digital subscription plans to stimulate demand. Nevertheless, shares fell 78% in 2022.
In her new role, Berland will oversee brand and product marketing, creative, consumer insights, membership and global communications, Peloton said.
Berland was Twitter’s marketing chief until November last year, her LinkedIn profile showed.
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(Reporting by Kannaki Deka in Bengaluru; Editing by Krishna Chandra Eluri)