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Peloton co-founder Tom Cortese is stepping down

Illustration by Alex Castro / The Verge

Tom Cortese, Peloton co-founder and chief product officer, is stepping down from his role. In a press release shared on Tuesday, Peloton says it will replace Cortese with former Twitter executive Nick Caldwell.

“After nearly 12 years of pouring myself into Peloton and serving our Members, I have decided it is time to move on and create space for new perspectives,” Cortese says. “I’m eager for new growth for Peloton and for me personally, but I’m also excited to support and watch this next phase of Peloton’s evolution.”

Cortese isn’t leaving the company completely. Peloton says he’ll enter an advisory role on November 1st to “support its vision and growth.” Cortese has held a pivotal role at Peloton, where he led the company’s development…

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