SoulCycle CEO Melanie Whelan resigns

SoulCycle CFO Sunder Reddy will serve as interim CEO

SoulCycle CEO Melanie Whelan resigned from her position on Tuesday effective immediately, the company confirmed.

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Whelan also stepped down from the indoor fitness cycling company’s board of directors. SoulCycle CFO Sunder Reddy will serve as interim CEO until the fitness brand name a permanent replacement.

"I'm deeply grateful for the opportunity to have led the SoulCycle team and brand over the past nearly eight years during a transformational time for this amazing community,” Whelan said in a statement. “The future is bright for this one-of-a-kind organization and I will be cheering on its continued growth and success.

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Whelan and SoulCycle mutually agreed to part ways, a source with knowledge of the situation told FOX Business. She will serve as a company adviser during the transition process.

SoulCycle declined to comment on the reasons for Whelan’s departure.

Whelan had served as SoulCycle CEO since 2015.

"We want to thank Melanie for her hard work and dedication to SoulCycle. Melanie and I have worked together for many years and I look forward to seeing what she conquers next,” SoulCycle executive chairman Harvey Spevak said in a statement. “We're grateful to have such a strong interim leader in Sunder throughout this transition, and are actively supporting him as we search for a permanent replacement."

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Whelan’s departure came months after SoulCycle drew national scrutiny over a boycott movement that arose following billionaire Stephen Ross’ decision to hold a Hamptons fundraiser for President Trump’s re-election campaign. Ross is the chairman of The Related Companies, which owns SoulCycle and luxury gym brand Equinox.

Celebrity critics, including model Chrissy Teigen, vowed to cancel their memberships over Ross’ decision. In response, brands distanced themselves from Ross.

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At the time, Whelan issued a statement noting that Ross was a “passive investor” with no role in management at SoulCycle.

“SoulCycle in no way endorses the political fundraising event being held later this week,” Whelan said.