Peloton realignment sees Precor undergo leadership changes
Precor has reported its repositioning as a wholly-owned subsidiary under Peloton, led by Dustin Grosz, the fitness equipment maker’s interim Chief Executive. As part of the transition, Betsy Webb will step down as vice president of Peloton Commercial, which had supported the Precor subsidiary, effective 6th January 2023.
Peloton named Grosz (pictured) - former Core Health and Fitness President and Chief Operating Officer - as Precor’s interim Chief Executive while a permanent Chief Executive for Precor is sought.
Grosz, a fitness industry veteran of 30 years, most recently guided the restructuring of Core Health and Fitness. While there, he restructured a $180 million revenue business. Before that, he was president and Chief Executive of StairMaster. Grosz also held various positions while working at Nautilus, Inc. for 17 years.
Peloton aims to set up Precor for long-term success and strengthen the overall Peloton organisation. The Precor team are being given a sense of autonomy to strengthen the operational focus and rigor of Precor as a business.
Ben Boyd, Peloton senior vice president of global communications advised that Peloton was not positioning Precor for a sale adding “the strategy was to run Precor for Precor. This was a first step to define what that means.”
The focus is on service and supporting the health club owners and operators who are Precor's customers, so they can deliver the most powerful solutions for their members.
Betsy Webb, who had been Vice President of Peloton Commercial since summer 2021, will leave the company on 6th January to pursue other business interests. Webb, who came from Microsoft, initially joined Peloton Commercial to spearhead growth in the Americas, but her role was expanded to lead Peloton Commercial globally. Under her leadership, the Peloton Commercial team implemented new go-to-market strategies, including third-party commercial distribution and an industry-first global Hilton partnership, expanding the footprint of the Peloton brand in thousands of locations worldwide.
Peloton bought Precor in 2021 for $420 million, positioning it as part of Peloton Commercial. Rob Barker, who had served as Precor Chief Executive prior to the Peloton purchase and then served as vice president/general manager of Peloton Commercial, left in February 2022. Precor has not had a Chief Executive since his departure.
Image: Dustin Grosz has been named interim CEO of Precor while Peloton searches for a permanent CEO. Credit: Precor
Related Articles
8th December 2022 - Peloton executives sued for alleged Insider Trading
17th March 2022 - Peloton expands its footprint into Australian hospitality industry
9th February 2022 - Peloton announce departure of Chief Executive John Foley as company sheds 2,800 jobs
11th October 2021 - Peloton to expand into Westfield Mall retail space
5th May 2021 - Peloton recalls treadmills in the US and UK after child’s death
10th March 2021 - Peloton launches interactive fitness platform in Australia with plans for retail locations
22nd December 2020 - Peloton announces US$420 million acquisition of fitness equipment brand Precor
5th December 2013 - Pelotone indoor cycling centre opens in Sydney’s west
17th April 2020 - Precor launches new online resources for operators
21st June 2019 - NovoFit and Precor join forces to expand Australian market coverage
5th April 2019 - Precor partners with Sony to deliver smart gym solution
16th October 2018 - Precor offers equipment solution at Anytime Fitness Camberwell
28th August 2018 - Precor secures major contract with Planet Fitness
