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SoulCycle's founders have resigned from the company

Ashley LutzApr 8, 2016, 22:31 IST

Julie Rice (left) and Elizabeth CutlerCourtesy of SoulCycle

SoulCycle's co-founders are leaving their positions at the brand.

Elizabeth Cutler and Julie Rice "have resigned as co-chief creative officers to 'pursue new projects,'" Fortune reported. The co-founders will stay on the company's board.

The pair founded SoulCycle a decade ago with one studio on the Upper West Side. The brand filed to go public in July, but gym brand Equinox currently owns a 97% stake.

SoulCycle's third founder Ruth Zukerman, left the brand and started a major competitor called Flywheel.

Many cycling studios are vying to capture people who are interested in indoor cycling, but SoulCycle is the undisputed leader.

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