Peloton co-founder Tom Cortese is stepping down

Tom Cortese, Peloton co-founder and chief product officer, is stepping down from his role. In

, Peloton says it will replace Cortese with former Twitter executive Nick Caldwell.

“After nearly 12 years of pouring myself into Peloton and serving our Members, I have decided it is time to move on and create space for new perspectives,” Cortese says. “I’m eager for new growth for Peloton and for me…