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Story summary
- Chip Wilson, founder of Lululemon, criticized the board for its 'weak and insufficient' response to his director nominations.
- He cited a 70-day delay in addressing proposals and urged changes after CEO Calvin McDonald's departure was announced.
- Wilson left the board in 2015 but remains a significant Lululemon shareholder.
- The stock dropped nearly 50% during Calvin McDonald's tenure.
- The board has indicated openness to future changes without committing to actions.
