NEW YORK: Peloton Interactive has hired Ben Boyd as SVP of global communications.
Boyd is set to start at the company on May 31, reporting to Dara Treseder, SVP and global head of marketing, communications and membership. He will oversee all PR efforts, including corporate, executive, internal, financial, consumer, product and technology and emerging business communications globally.
Boyd said he has a personal connection to the Peloton brand. The exercise bike played a fundamental role in helping with his recovery after he had surgery to correct a herniated disc.
“It so motivated me in terms of staying on-track,” Boyd said. “I am such a passionate believer in the Peloton brand and community.”
The last person to hold the SVP of global communications position was Jessica Kleiman, who left the technology and home-exercise brand in March.
“I’m currently taking some much-needed time to focus on my family and figure out the next right chapter for me after a long run at Peloton,” Kleiman said via email. “In the meantime, I’m consulting for some exciting startups and have gone back to my longtime love of writing. I’m still a big believer in and loyal member of the brand and wish my successor the very best.”
Boyd is joining Peloton at a challenging time for the home exercise and technology brand. The company’s losses widened in its fiscal Q3 as revenue dropped to $964.3 million from $1.26 billion a year earlier, coming in short of expectations. The connected fitness equipment maker attributed the year-over-year decline to a reduction in consumer demand coming off the COVID-19 pandemic’s peak.
Next month, Peloton will hike the monthly fee for its on-demand fitness content for the first time, while slashing the prices of its Bike, Bike+ and Tread machines in a bid to reach new customers.
Earlier this year, Peloton CEO John Foley stepped down and became executive chair. Former Spotify and Netflix CFO Barry McCarthy was named president and CEO and joined Peloton’s board. President William Lynch also stepped down but remains on Peloton’s board.
The connected fitness company also cut 2,800 jobs, or about 20% of corporate positions. The changes came after activist investor Blackwells Capital sent a letter to Peloton’s board in January urging Foley to quit his role as CEO and asked the company to consider selling itself.
“Peloton’s comms team has my utmost respect,” said Boyd. “What they’ve navigated through has been challenging, but the power and positioning of the brand continues to be front of foot and that says a lot about the team.”
He added that he is focused on making sure comms as a function is creating as much value as possible for Peloton community members, employees and all stakeholders.
Since October 2020, Boyd has worked at Lowe’s as VP of communications and community relations, leading a team focused on engaging 350,000 associates, more than 19 million weekly customers and other key stakeholders. He oversaw PR, internal communications, brand marketing communications, executive communications, digital content and corporate events. Boyd also led Lowe’s community relations efforts and oversaw the Lowe’s Foundation, according to a statement from Peloton.
Boyd said his replacement at Lowe’s has not been named. A Lowe’s spokesperson was not immediately available for comment.
Before going in-house, Boyd was BCW’s global chief strategy and operations officer. Previously, he worked at Edelman for 14 years, most recently as chief client strategy officer, overseeing the agency’s client experience program and counseling C-suite executives. Boyd also led Edelman’s studies, including the Trust Barometer.
He has also worked at the Service Employees International Union, Barnes & Noble, Weber Shandwick and Hill & Knowlton.