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Chip Wilson Nominates New Directors Amid CEO Departure

12/31/2025

Summary

Wilson Reshapes Board

Chip Wilson, founder of Lululemon Athletica, nominated three independent directors as CEO Calvin McDonald departs.
The nominees are Marc Maurer, Laura Gentile, and Eric Hirshberg, whom Wilson says would boost board effectiveness.
Wilson criticized the board for lacking a clear succession plan and questioned its ability to appoint a new CEO.
Activist investor Elliott Management, which holds a $1 billion stake, is pressuring the company.

Summary

Wilson Initiates Proxy

Chip Wilson, founder of Lululemon Athletica, has launched a proxy contest to nominate Marc Maurer, Laura Gentile, and Eric Hirshberg ahead of the 2026 annual meeting.
Calvin McDonald, Lululemon Athletica's chief executive officer, will depart January 31, with Meghan Frank and André Maestrini serving as interim co-CEOs.
Lululemon's shares have fallen about 45% in 2025, prompting Elliott Management, which holds a $1 billion stake, to intensify pressure.

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Wilson Reshapes Board

Chip Wilson, founder of Lululemon Athletica, nominated three independent directors as CEO Calvin McDonald departs.
The nominees are Marc Maurer, Laura Gentile, and Eric Hirshberg, whom Wilson says would boost board effectiveness.
Wilson criticized the board for lacking a clear succession plan and questioned its ability to appoint a new CEO.
Activist investor Elliott Management, which holds a $1 billion stake, is pressuring the company.

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