Peloton has hired a former Amazon Web Services executive to be its new CFO and help turn around the exercise tech company that has struggled financially in recent months.
Liz Coddington previously served as vice president of finance for Amazon's cloud computing service, and before that in leadership roles at Adara, Walmart.com and Netflix.
"Having worked at some of the strongest and most recognizable technology brands, she not only brings the expertise needed to run our finance organization, but she has a critical understanding of what it takes to drive growth and operational excellence," Peloton CEO Barry McCarthy said in a news release about her appointment, which is effective June 13.
Ms. Coddington succeeds Jill Woodworth, who is stepping down after joining the company in 2018. Ms. Woodworth will serve as an interim consultant as the company prepares to report its fiscal year financial results.
Ms. Coddington will be paid $1 million a year with $9 million in stock equity and up to $150,000 in relocation expenses, a regulatory filing shows.