• by Tanya Gazdik , 4 hours ago

When Megan Imbres begins as Peloton’s new CMO on July 7, she will need to hit the ground running.

“Imbres is Peloton’s fourth top marketer since 2020, underpinning the turbulent transition the company has had as sales have struggled following a pandemic-era boom,” according to Retail Dive. “Peloton is trying to shift away from a reliance on classes tied to pricey hardware like bikes and treadmills while broadening its appeal to different sets of subscribers.”

Imbres replaces Lauren Weinberg, who departed the maker of connected fitness equipment in April.

“The head of marketing role has been a revolving door at Peloton, with Imbres being the third person to take the position in less than three years,” notes Bloomberg. “Imbres will oversee the brand’s product marketing, growth marketing and member engagement, among other areas.”

She will report to new CEO Peter Stern

“Peloton has been cutting its marketing and advertising spending as it tries to adapt to reduced demand after a burst of popularity early in the Covid-19 pandemic,” according to The Wall Street Journal. “Marketing and advertising expenses fell to $61 million in the fiscal third quarter ended in March, down from $113 million the year before.”

The marketing reduction is part of an effort to acquire new subscribers more cost efficiently, the company said in May as it reported its third-quarter results.

Imbres most recently served as managing director of Apple Marcom LA, the global marketing communications group responsible for the company’s services businesses, overseeing creative campaigns and delivering tentpole cultural moments, including the Apple Music Super Bowl Halftime Show and Apple TV’s partnership with Major League Soccer.

“She brings more than 20 years of experience with direct-to-consumer brands, including expertise in data-driven performance marketing, brand development, and creative strategy for some of the world’s most influential technology and entertainment companies,” according to the company.