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Gagnier Communications works for Blackwells Capital as it calls on Peloton’s board to fire CEO John Foley and put the exercise machine company on the auction block.
The activist firm, which owns less than five percent of Peloton, says Foley “must be held accountable for his repeated failures to effectively lead Peloton.”
Blackwells claims Foley misled investors about the need for additional capital weeks before issuing $1B in equity, failed to implement effective internal controls over financial reporting, vacillated on pricing strategy, hired his wife as a key executive and committed to expensive office space in New York “because he enjoys living there and owns a newly-acquired $55M vacation home nearby.”
The fund believes Peloton squandered an opportunity “to accelerate consumer adoption of its category-defining products and drive performance of the business and value of shareholders” during the pandemic.
Peloton went public on Sept. 26, 2019, pricing shares at $29 each.
They hit an all-time high of $171.09 on Jan. 14, 2021 and now trade at $26.98.
Gagnier Communications, Dan Gagnier and Jeffrey Mathews represent Blackwells.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
