Peloton Interactive Inc. (NASDAQ: PTON) announced that Chief Financial Officer Liz Coddington will depart the company in March to pursue opportunities outside the fitness industry.

Coddington will remain with the connected fitness equipment maker through March while the company conducts a search for her replacement, according to a company statement.

"Liz has played a vital role in Peloton's continued transformation and I want to thank her for her partnership, dedication, and tireless work in architecting Peloton's financial turnaround," said Chief Executive Officer Peter Stern.

Coddington joined Peloton as CFO and has overseen the company's financial operations during a period of restructuring efforts. The executive expressed confidence in the company's direction under Stern's leadership.

"I'm proud of the work we've done over the past four years to improve our financial profile, put in place a winning strategy, and position the business for the future," Coddington said in the statement.

The New York-based company has undergone significant changes in recent years as it worked to stabilize its business following rapid growth during the pandemic and subsequent demand normalization. Peloton operates in the United States, United Kingdom, Canada, Germany, Australia, and Austria.