Peloton has been in some serious hot water as of late. Their shares dropped nearly 7.3% after the U.S. Consumer Product Safety Commission released a shocking video of a young child getting sucked underneath a Peloton treadmill.
Peloton has done fairly well for itself over the past year, offering state-of-the-art workout equipment for the millions of people who have stayed home due to the coronavirus pandemic.
Unfortunately, this little hiccup may set them back quite a bit—but not if Peloton CEO and founder John Foley has anything to say about it. He scathingly responded to the CPSC’s video, stating that they’d been misrepresented.
“After we learned about the child’s death, we immediately reported to the U.S. Consumer Product Safety Commission (CPSC). Since then we have fully cooperated with CPSC and responded to all of their requests, with one exception,” the CEO divulged.
The exception Foley was referring to was that he didn’t agree to share private information about the consumer that had been affected by the product. As he proudly stated, “Government agencies shouldn’t have unfettered access to consumers’ private information, and I am proud that we took a stand to protect these Members’ privacy.”
