Lululemon, Chip Wilson Settle Feud
The agreement adds two Wilson nominees to the board and includes an 18-month standstill, avoiding a shareholder showdown.
- On Wednesday, Lululemon Athletica Inc. reached an agreement with founder Chip Wilson, placing two of his three nominees—former ESPN Chief Marketing Officer Laura Gentile and former On co-CEO Marc Maurer—on the board pending shareholder approval.
- Wilson launched his campaign last year after CEO Calvin McDonald's departure amid sagging market performance, escalating efforts as Lululemon's Americas business slowed due to tariff costs and competition from rivals like Vuori and Alo Yoga.
- The founder took out Wall Street Journal advertisements likening the company to a 'plane crash' and 'sinking ship,' then paid for trucks displaying denigrating brand ads outside Vancouver headquarters in March and a New York store in April.
- Executive Chair Marti Morfitt said the agreement 'allows lululemon to focus on continuing to strengthen its performance,' while Wilson called the board additions 'meaningful progress toward restoring the company's product-first vision and unlocking tremendous value for shareholders.'
- Wilson agreed to standstill and non-disparagement conditions for about 18 months until 30 days before Lululemon's 2028 annual meeting; shares rose about 4% in premarket trading despite being down nearly 39% year to date.
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Lululemon (LULU) Reaches Settlement With Founder Chip Wilson As Two New Directors Prepare To Join Board
Lululemon (NASDAQ: LULU) has reached a settlement agreement with founder Chip Wilson, who holds approximately 8.7% of the company’s outstanding common stock. The deal establishes a framework for board changes and governance stability as the athletic apparel company heads into the remainder of 2026. Former ESPN chief marketing officer Laura Gentile and former On co-CEO Marc Maurer will join Lululemon’s board following the company’s 2026 Annual Me…
Lululemon Settles Dispute With Founder by Shaking Up Boardroom
Lululemon Athletica Inc. agreed to resolve a long-running dispute with founder Chip Wilson by appointing three new members to a board of directors the billionaire has campaigned against for months.
The Toronto Star
Lululemon reaches agreement with founder to appoint some of his board nominees
Lululemon Athletica Inc. has headed off a showdown at its upcoming meeting by signing an agreement with its estranged founder who was hell-bent on spurring change at the retailer.
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