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.
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These quotes reveal how Lululemon’s founder really feels about the athleisure brand
Chip Wilson stepped down from the CEO role at Lululemon in 2013. Jim Bennett/Getty Images Lululemon founder Chip Wilson has been a vocal critic of the brand since leaving the company. Some of his remarks, which have criticized the brand’s diversity, marketing, and leadership, have been controversial. In December, Wilson launched a proxy battle to change the leadership of Lululemon’s board. Lululemon’s outspoken founder is used to making headlin…
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…
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lesaffaires.comThe businessman wants to see changes in the management and strategy of the company he has founded.
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:
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