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Peloton Adds Ex-Walmart Lawyer, StubHub CLO as Compliance Chief

March 9, 2021, 11:00 AM

Peloton Interactive Inc. has a new compliance chief in Bertrand “Lance” Lanciault III, a former chief legal officer at StubHub Inc. who most recently worked at Walmart Inc.

Jessica Kleiman, a spokeswoman for the New York-based cycling and exercise equipment company, confirmed to Bloomberg Law that Peloton picked up Lanciault last month as a senior vice president and head of compliance and risk.

Lanciault, who didn’t respond to a request for comment, joins Peloton after nearly seven years at Walmart, where he served as chief ethics and compliance officer for the retail giant’s U.S. e-commerce arm. He was hired by the latter in 2014 after six years at StubHub, a ticketing business that recruited Lanciault as legal chief in 2008 following its $310 million sale to former parent eBay Inc.

Peloton’s addition of Lanciault is one of at least 16 lawyers the company has hired since raising nearly $1.2 billion through an initial public offering in late 2019.

Kleiman, Peloton’s spokeswoman, said Lanciault is taking over compliance responsibilities from Savannah Stevenson, an in-house lawyer who is now head of the company’s learning and development program. Stevenson worked at Morgan Stanley and four law firms prior to joining Peloton in 2019.

Hisao Kushi, a co-founder and chief legal officer at Peloton who earned nearly $7.3 million in total compensation from the company last year, didn’t respond to a request for comment about Lanciault’s new role or the half-dozen other new lawyers to have joined the company in recent weeks.

Walmart spokeswoman Allison Van Matre told Bloomberg Law that the company has yet to name a replacement for Lanciault, who was based in San Bruno, Calif. Walmart’s compliance team, which has brought on new legal talent in recent months, remains led by global chief ethics and compliance officer Daniel Trujillo.

New Recruits

Peloton has had its profits pushed to new heights due to a surge in demand for its products by customers stuck at home due to the coronavirus pandemic.

The company employs popular cycling personalities like Cody “King of Quarantine” Rigsby and Robin Arzón, a former litigation associate at Paul Hastings in New York who is now the company’s vice president of fitness programming.

In late December Peloton made its largest-ever acquisition by agreeing to pay $420 million to purchase exercise equipment maker Precor Inc. Fenwick & West is advising Peloton on that deal, which the company expects to close early this year.

Peloton is also involved in several intellectual property disputes with rivals in the home fitness and equipment space. Those entanglements and transactions have the company hiring more lawyers.

Among the company’s new legal recruits are international data privacy counsel Russell Moore, who joined Peloton’s London office in December, and corporate counsel David Frydman, a Fenwick associate in New York hired by Peloton in January.

That same month Peloton hired Baker Botts associate Emmanuel Azih Jr. as an associate product counsel and counsel Sally Yen in Taiwan from Japan Tobacco Inc.

Marketing and licensing counsel Hayley Lattman also joined Peloton in January from Etsy Inc., where she spent three years as a senior product and commercial counsel. Etsy hired Lattman in early 2018 after she was fired by CBS Corp. over a social media post in response to a mass shooting in Las Vegas, a misstep for which she apologized.

“We fully believe that Hayley regrets her past actions, feels true remorse for what happened, and has taken it as a learning opportunity,” Peloton said in a statement. “We’re already seeing that reflected in the work she’s done so far at Peloton.”

Other hires include associate privacy counsel Jasdeep Singh, hired last month from Nike Inc., where he was a privacy compliance team lead. February also saw Peloton bring on membership disputes counsel Melanie Goolsby and associate disputes counsel Paul Chappell from Medecision Inc. and McGuireWoods, respectively.

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com

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