Lululemon Founder Chip Wilson Seeks Board Shake-up, Nominates 3 Directors

The move follows leadership change and weak sales as Wilson said the current board lacks creative and product expertise.

The Lululemon logo on a Lululemon store in Pittsburgh on June 3, 2024. Gene J. Puskar/AP

Lululemon founder Chip Wilson has nominated three independent candidates to the company’s board of directors, escalating pressure on management following the announced departure of its chief executive and renewed scrutiny of the company’s strategy amid slowing U.S. sales.

Wilson, one of Lululemon’s largest shareholders, said on Dec. 29 that he has nominated former On Holding co-CEO Marc Maurer, former ESPN Chief Marketing Officer Laura Gentile, and former Activision chief executive Eric Hirshberg.

Wilson said in the announcement, distributed via PR Newswire, the nomination was intended to address what he described as a lack of creative and product leadership at the board level.

“It is clear to the world that Lululemon is special, but in need of change,” Wilson said.

“The simple truth is that the current Board lacks these skills and, as a result, Lululemon is unable to win back the confidence of its critical stakeholders and regain commercial momentum.”

The move comes at a time when the company is searching for a new chief executive, following the Dec. 11 announcement that Calvin McDonald will depart at the end of January after seven years in the role.

McDonald will step down amid declining U.S. sales and intensifying competition.

Chief Commercial Officer André Maestrini will serve as interim CEO while the board searches for a permanent replacement, the company said at the time.

Wilson was critical of how the board had handled leadership succession.

“The recent CEO change announcement was the third total failure of Board oversight with no clear succession plan in place,” he said in the Dec. 29 statement.

“Shareholders have no faith that this Board can select and support the next CEO without input from a Board with stronger product experience.”

He added that significant board changes must occur before a permanent CEO is chosen, saying this was the only way to ensure the next leader can succeed and restore investor confidence.

Profiles of the Nominees

Wilson said each of the three nominees brings experience he believes is currently lacking on Lululemon’s board.

Maurer served as co-chief executive of On Holding AG from January 2021 to June 2025, after joining the company in 2013 as chief operating officer. During his tenure as co-CEO, On’s revenue nearly quadrupled, according to company data cited in the Dec. 29 statement.

Gentile served as ESPN’s chief marketing officer from January 2018 to November 2023. During her career at ESPN, she founded espnW, a platform focused on women in sports, and oversaw brand strategy and fan engagement across ESPN’s media properties.

Lululemon fashions are displayed in the company store windows in New York on March 25, 2021. Mark Lennihan/AP

Hirshberg was chief executive of Activision Publishing, the largest division of Activision Blizzard, from 2010 to 2018. During that period, Activision Blizzard’s stock rose roughly 500 percent, and segment profit nearly doubled, according to company financial data cited by Wilson.

Wilson said the nominees would help refocus Lululemon on product innovation, brand identity, and customer inspiration.

“They can play an essential role in refocusing on the inspirational customer, revitalizing its bold vision, attracting the best people and maximizing value for all shareholders,” he said on Dec. 29.

Business Pressures

Lululemon has faced a challenging year as demand in its core U.S. market has softened. The company reported on Dec. 11 that U.S. net revenue declined by two percent in its most recent quarter, while international net revenue rose 33 percent. Quarterly profit fell 13 percent.

The company has also faced rising costs linked to U.S. tariffs and stiff competition from brands such as Alo Yoga and lower-priced athletic apparel retailers. Analysts and customers have criticized some newer product lines, while the company has come under scrutiny for its use of synthetic fabrics and so-called “forever chemicals.”

Earlier this year, Lululemon sued Costco Wholesale, alleging the retailer sold “knockoff” versions of its popular activewear designs.

Wilson said he and other participants plan to file a definitive proxy statement with the U.S. Securities and Exchange Commission to solicit shareholder support ahead of the 2026 annual meeting.

While none of the three nominees currently own Lululemon shares, Wilson and related entities collectively beneficially own about 9.9 million shares, according to filings cited in the Dec. 29 statement.