Peloton has tapped Ford executive Peter Stern to be its next CEO. The longtime automotive executive was last overseeing Ford's subscription services.Peloton on Thursday said it has appointed a Ford executive to be its next CEO and president.

Peloton Interactive has appointed former Apple executive Peter Stern as its CEO and president effective Jan. 1, the fitness-equipment maker said on Thursday, to steer its turnaround efforts after a post-pandemic slump in demand.

High-end fitness company Peloton, which has struggled in the post-pandemic world, has tapped another chief executive to try to turn around its business.