US EditionLululemon founder says board's response to his suggestions 'weak and insufficient'
Founder Chip Wilson criticizes Lululemon’s board for slow response to nominations and failed CEO succession amid nearly 50% stock decline, urging broader director changes.
- On Feb. 27, 2026, Chip Wilson wrote to shareholders saying the board's response was `weak and insufficient` and took 70 days to address three board nominations and other suggestions.
- Nearly half of the company's stock value has evaporated as Wilson criticized the board's response as 'weak and insufficient' last week, amid leadership and performance issues.
- Wilson nominated Marc Maurer, Laura Gentile and Eric Hirshberg and said more than three directors should be replaced, but his spokesperson did not respond to queries.
- The board is facing recruitment difficulties as Wilson says several qualified candidates declined to join until the proxy contest is resolved, and Lululemon did not immediately comment.
- Wilson's founder status and public profile in Vancouver underscore his long ties, as he started Lululemon roughly 28 years ago in B.C. and recently the company reintroduced the pulled apparel line with sizing advice.
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Zero Hedge
Lululemon Founder Blasts Board Again Amid Stock Collapse
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Lululemon founder says board’s response to his suggestions ‘weak and insufficient’
The founder of Lululemon Athletica Inc. is continuing to pressure the retailer to shake up its board and processes after he says it responded to his suggestions in a "weak and insufficient" way.
Lululemon Founder Calls Board's Response To His Suggestions 'weak And Insufficient'
The founder of Lululemon Athletica Inc. is continuing to pressure the retailer to shake up its board and processes after he says it responded to his suggestions in a “weak and insufficient” way. In a letter sent to Lululemon shareholders on Feb. 27, Chip Wilson said it took the company’s board 70 days to address three board nominations and several other suggestions he made in December. The response “does not reflect serious engagement toward res…
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