Peloton Interactive Inc.’s founder and former chief executive, John Foley, has sold about $50 million worth of shares in the company to an investment firm backed by computer entrepreneur Michael Dell, according to a securities filing Wednesday.
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Peloton Interactive Inc.’s founder and former chief executive, John Foley, has sold about $50 million worth of shares in the company to an investment firm backed by computer entrepreneur Michael Dell, according to a securities filing Wednesday.
Foley, who stepped down in February as troubles mounted at Peloton PTON, -3.22%, still holds enough shares after the sale to maintain effective control of the exercise-equipment maker.
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