Peloton’sJill Woodworth is the chief financial officer of the company. Liz Coddington will replace her, an executive from Amazon Web Services. The announcement was made Monday.

This handover is yet another step in the evolution of at-home gym company Peloton. Peloton earlier this yearBarry McCarthy, who was previously CFO at Netflix, Spotify and other companies, has been named chief executive officer.

McCarthy succeeded John Foley as founder. McCarthy was amidst intense turmoil at the company which had been suffering from increasing costs and declining demand. McCarthy launched the company with an aggressive cost restructuring plan, which in part emphasizes subscription revenue.

McCarthy released that Liz was a highly talented finance executive. She will add value to Peloton’s management team. Her experience working at the best and most popular technology brands means she can not only provide the financial expertise necessary to manage our organization but has an in-depth understanding of the factors that drive growth and operational excellence. Her intelligence, leadership, and abilities have been evident to me and I am eager to collaborate with her in the execution of the next stage of Peloton.

Coddington was previously employed by Walmart.com, and Netflix. The announcement states that Woodworth, who had worked at Peloton from 2018 to 2018, will be serving the company on an interim basis as a consultant.

Blackwells Capital activist investor has put pressure on Peloton over the past few months. as recently as AprilHe urged the company’s management to think about a sale.

Manufacturer of connected treadmills and bikes, the company has been struggling to maintain its rapid growth in post-pandemic era. CNBC reported that the company was experiencing a slowdown in January. walked back ambitious sales projectionsIt also laid off 2,800 employees in February.

McCarthy stated that during the first earnings conference phone call following his takeover, he was “simple”.urprised to learnHow disorganized the supply chain was, and how fast the cash reserves of the company were shrinking.

The company has signed an agreement letter of commitment with the firm in May JPMorgan and Goldman Sachs to borrow $750 million in five-year term debt in an effort to return the business to free cash flow positive.

—CNBC’s Lauren Thomas contributed to this report.