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Lululemon Appoints Former Nike Exec as New CEO Amid Sales Decline

4/23/2026

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Summary

Story summary

Lululemon Athletica Inc. named Heidi O’Neill, a former Nike executive, as CEO, effective September 8.
O’Neill spent 25 years at Nike and will replace Calvin McDonald, who stepped down amid declining sales.
Lululemon's stock has fallen nearly 50% this year, heightening concerns about its position against Alo Yoga and Vuori.
Activist investors and founder Chip Wilson have criticized the board for complacency and called for new leadership.

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Story summary

Lululemon Athletica Inc. named Heidi O’Neill, a former Nike executive, as CEO, effective September 8.
O’Neill spent 25 years at Nike and will replace Calvin McDonald, who stepped down amid declining sales.
Lululemon's stock has fallen nearly 50% this year, heightening concerns about its position against Alo Yoga and Vuori.
Activist investors and founder Chip Wilson have criticized the board for complacency and called for new leadership.