Peloton Founders Leaving Fitness Company in Latest Shake-Up (2)

Peloton Interactive Inc. Executive Chairman and co-founder John Foley is stepping down from the fitness company as part of a leadership shake-up, extending the turbulence at a business trying to pull out of a deep slump.

Foley, who helped start Peloton in 2012 and served as chief executive officer for 10 years, is resigning effective Monday, the company said in a statement. Foley took the executive chairman role in February when he handed the reins to CEO Barry McCarthy, a veteran of Spotify Technology SA and Netflix Inc.

John Foley

Photographer: Michael Nagle/Bloomberg

Chief Legal Officer Hisao Kushi, another co-founder, is ...