US EditionLululemon founder Chip Wilson launches proxy fight for board shakeup
Chip Wilson nominated three independent directors to Lululemon's board aiming to restore visionary leadership amid a 45% stock decline this year, citing poor board oversight.
- On December 29, 2025, Chip Wilson, Lululemon founder, nominated three independent directors, effectively launching a proxy fight days after CEO Calvin McDonald’s exit announcement.
- After criticizing recent succession planning, Chip Wilson called the CEO process a failure of board oversight and argued the urgent CEO search must be led by new independent directors to restore a product-first mindset this month.
- Wilson's three nominees include former On co-CEO Marc Maurer, ex-ESPN CMO Laura Gentile and former Activision CEO Eric Hirshberg, and he owns about 4.79 million shares, roughly 4.27%.
- Lululemon shares have plunged nearly 45% this year, and interim co-CEOs Meghan Frank and André Maestrini now lead the search for a replacement amid Elliott Management’s push for Jane Nielsen as CEO.
- The company's size makes a board shakeup consequential for the broader athleisure sector, with Lululemon's $10.6 billion revenue last fiscal year amid a $623 billion athleisure market by 2030.
33 Articles
33 Articles
Chip Wilson's Proxy Battle: A New Chapter in Lululemon's Leadership Saga
Chip Wilson's Proxy Battle: A New Chapter in Lululemon's Leadership Saga Lululemon's founder Chip Wilson announced a proxy battle on Monday, aiming to restructure the company's board by nominating three independent directors. This decision follows the unexpected departure of CEO Calvin McDonald, which left the yoga wear giant without a clear successor. The company's stock has plummeted nearly 50% this year as it faces fierce competition and shar…
lululemon Comments on Chip Wilson's Notice to Nominate Director Candidates
VANCOUVER, British Columbia -- lululemon athletica inc. (NASDAQ:LULU) (“lululemon” or the “company”) today commented on Chip Wilson’s announcement that he has submitted a notice to nominate three director candidates to stand for election to the company’s Board at lululemon’s 2026 Annual Meeting of Shareholders:
Meet Lululemon founder Chip Wilson, who just launched a proxy fight to shake up the athleisure giant's board
Lululemon founder Chip Wilson in 2017.Jim Bennett/Getty ImagesChip Wilson founded Lululemon Athletica Inc. in 1997 after selling his first apparel company.During his tenure, Wilson became known for his controversial remarks and mishandling of company scandals.Since leaving, Wilson has been vocal about his negative views of Lululemon's leadership and recently launched a proxy fight.Lululemon's billionaire founder, Chip Wilson, has been the cente…
The businessman Chip Wilson launches a battle for control of Lullulemon Athletica, with the aim of making changes to the management and strategy of the company he founded.
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