Wilson has already proposed replacing at least three directors and told shareholders on Friday that a “quantum of change” is needed at the brand.
A MILE. A MINUTE.
Wilson has already proposed replacing at least three directors and told shareholders on Friday that a “quantum of change” is needed at the brand.
Lululemon founder Chip Wilson's attack of the company's board reached a new level this week after he criticized the brand's leadership and how it has handled the sale and quickly having to pull a line of leggings. In a post shared on LinkedIn on Thursday, Wilson slammed the board after brand faced complaints from consumers …
Chip Wilson’s proxy battle began in December when he nominated three independent directors and now wants two legacy directors to resign.
Chip Wilson nominated three candidates on Monday after saying Lululemon is “in need of change.”
The activist investor is reportedly lobbying for a new leader at the company after CEO Calvin McDonald will step down on January 31.
Lululemon Athletica CEO Calvin McDonald will step down from the company after year where the brand has struggled to against younger rivals like Vuori and Alo and the stock price has dipped nearly 50 percent over the year. In a call with analysts on Thursday, McDonald admitted a change was needed. “The timing is right …