Blackwells Capital Activist Presentation Deck
C
MR. MCCARTHY'S NEW-HIRE COMPENSATION IS TROUBLINGLY EXCESSIVE
▪ Mr. McCarthy's sign-on award is larger
than that of the new CEO of Amazon, a
company that is more than 200x the size
of Peloton
I
▪ Mr. McCarthy is a first-time public company
CEO, and yet he is earning
approximately 4x as much as his
predecessor
▪ Blackwells questions the need for such an
outsized sign-on award given the fact that:
BW
Mr. McCarthy was retired before
joining Peloton; and
Mr. McCarthy initially reached out to Jay
Hoag to inquire about the CEO position
- there was no need to entice Mr.
McCarthy with a generous sign-on
package if he was knocking on the door
looking for work
BLACKWELLS CAPITAL
Market
Cap ($B)
$273
$12
P
PELOTON
$213
Highest-Paid Newly Appointed S&P 500 CEOs
$179
$1,640
amazon intel.
$203
$36
$43
Walgreens
Boots
Alliance
$35
$27
Cerner
$24
$50
CENTENE
Corporation
$22
$51
$22
$13
AIG Citrix
$22
$43
$21
$12
L3HARRIS WestRock
(1) Source: Bloomberg and company filings. Notes: Analysis of CEO's appointed Since Jan. 1, 2021 (compensation in $M), CEO compensation data uses total CEO compensation data refers to the sum of base salary, annual incentive
opportunity, long-term incentive opportunity and any cash or equity new-hire or inducement grants for the year in which the new CEO was appointed. Data excludes moving expenses and other perquisites. Data excludes interim CEOs. Market
cap data as of February 9, 2022. Peloton compensation calculated using methodology described on page 18.
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