Peloton CEO apologizes for not recalling deadly treadmills sooner
CBSN
Peloton Interactive on Thursday reiterated it had erred when it refused to recall its treadmills after a child died and dozens more were were injured in accidents involving its pricey exercise equipment.
"We made a mistake in our response. We should have been more open to a productive dialogue from the outside, and for that I apologize," John Foley, CEO and co-founder of the company told an earnings call with Wall Street analysts on Thursday. Foley's words echoed a mea culpa made Wednesday, when the company revealed separate recalls of both its Tread+ and Tread treadmills. Peloton estimated the recalls would cost it $165 million. That's nearly three times its profits for all of 2020, when Peloton recorded net income of $63.6 million.
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