Companies

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.
Lululemon Founder Chip Wilson Seeks Board Shake-up, Nominates 3 Directors
The Lululemon logo on a Lululemon store in Pittsburgh on June 3, 2024. Gene J. Puskar/AP
Evgenia Filimianova
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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.

Evgenia Filimianova
Evgenia Filimianova
Author
Evgenia Filimianova is a UK-based journalist covering a wide range of international stories, with a particular interest in foreign policy, economy, and UK politics.