Peloton Interactive Inc.’s founder and former chief executive, John Foley, has sold about $50 million worth of shares in the company to an investment firm backed by computer entrepreneur Michael Dell, according to a securities filing Wednesday.
Foley, who stepped down in February as troubles mounted at Peloton
PTON,
still holds enough shares after the sale to maintain effective control of the exercise-equipment maker.
This post was originally published on Market Watch
