Peloton CEO speaks out amid treadmill recall after child's deathMay 7, 2021
Peloton issuing recall on treadmills may impact demand: BMO managing director
BMO Capital Markets managing director Simeon Siegel discusses the impact of Peloton’s treadmill recall.
Peloton CEO John Foley spoke out Friday about the "unthinkable" death of a child who was tragically pulled under a Tread+ machine and reiterated the company had made a "mistake" in its communication strategy.
"Our heart goes out to any child hurt and the one tragic death, it’s unthinkable," Foley told Good Morning America’s Michael Strahan, where he also announced new safety features involving the equipment's software and hardware.
Foley’s comments come three weeks after the Consumer Product Safety Commission urged consumers to stop using the treadmills exercise equipment.
He highlighted the connected fitness company’s commitment to safety following reports of more than 70 incidents and discussed the company’s decision to recall its treadmills after initially pushing back and calling the warning "inaccurate and misleading."
PELOTON RECALLS ALL TREADMILLS OVER SAFETY CONCERNS
"Right away when I found out about a child’s death – we had one child’s death and it was tragic and horrible and our heart went out to that family – right away, I emailed every one of our Tread members personally and I said, ‘Listen, treadmills in the home have to be used safely' and so we’ve been trying to be communicative and transparent with our members," Foley said.
"But again, I will say we did make a mistake by not engaging with the CPSC in a more productive dialogue," Foley said.