US EditionLululemon founder Chip Wilson launches proxy fight for board shakeup
Founder Chip Wilson nominated three independent directors amid activist pressure and leadership changes as Lululemon faces a nearly 45% share price decline this year.
- Chip Wilson launched a proxy fight by nominating three independent directors to Lululemon's board after CEO Calvin McDonald's exit.
- Lululemon has lost nearly half its value this year, struggling with competition from Alo Yoga and Vuori.
- Wilson stated that shareholders lack faith in the current board's ability to select a new CEO without strong product experience.
- Lululemon appointed co-interim CEOs following McDonald's departure.
17 Articles
17 Articles
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.
How Lululemon’s founder is looking to restore investor faith as a new CEO is picked
Lululemon founder and large shareholder Chip Wilson is looking to restore investor faith in the yoga-gear maker by changing the makeup of the board of directors. Article Attribution | Read More at Article Source The post How Lululemon’s founder is looking to restore investor faith as a new CEO is picked appeared first on RocketNews.
Lululemon founder Chip Wilson launches proxy fight for board shakeup
Lululemon Athletica's founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company's board, days after the apparel maker announced the exit of CEO Calvin McDonald.
castanet.net
Chip Wilson pushing for leadership change on Lululemon board
Chip Wilson says he has nominated three director candidates for Lululemon Athletica Inc.'s board as he seeks changes in leadership and strategy at the company he founded.
Lululemon founder strikes as CEO departure sparks turmoil
Lululemon Athletica’s founder Chip Wilson said on Monday he had launched a proxy fight by nominating three independent directors to the company’s board, days after the apparel maker announced the exit of CEO Calvin McDonald.
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