Blackwells Capital Activist Presentation Deck
A
FOLEY AND HOAG (TWO INSIDERS) RETAIN EFFECTIVE CONTROL
John Foley and Jay Hoag continue to maintain effective control over the Company,
and their close alignment on issues like a sale of the Company raises serious concerns
▪ As of September 30, 2021, Mr. Foley and Mr.
Hoag held shares representing approximately
75% of Peloton's total voting power
▪ CEO Barry McCarthy also appeared to
acknowledge that the decision on whether to
sell Peloton effectively rests with John Foley
and Jay Hoag²
BW
▪ Mr. McCarthy suggested that Mr. Foley and
Mr. Hoag have their minds made-up about a
sale, stating that he is confident that "a large
percentage of the votes will be cast in favor of
my leadership of the business" as a public
company²
BLACKWELLS CAPITAL
"...[E]veryone, hopefully, loves
you like I love you... I think, Jay,
that you are one of the five great
investors of all time."1
- John Foley, to Jay Hoag
"I congratulate you on your
success to date, but I know
you're only getting started."1
- Jay Hoag, to John Foley
(1) Source: Growth Journeys: A TCV Podcast. "Ride the Mountaintop: How Peloton Re-Invented the Fitness Industry with a Revolutionary Business Model," July 15, 2020.
(2) Source: Patrick McGee, "New Peloton chief dismisses suggestions company will be sold," Financial Times, February 14, 2022.
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