New York
Lululemon has publicly rejected founder Chip Wilson’s ideas to repair the struggling athleisure model, which incorporates an overhaul of its board, with some strongly worded criticisms of its former chief.
Wilson, who can also be the corporate’s second largest shareholder, launched his newest salvo final December in his marketing campaign towards the corporate’s administration. He nominated three new administrators for Lululemon’s board, together with executives from ESPN and Activision Blizzard, saying they have been wanted to “redefine Lululemon.”
In a letter to shareholders, Lululemon on Monday rejected Wilson’s nominations for the corporate’s board, saying that voting for them would “endorse his misguided perspectives” and accusing him of trying to “regain increased influence” over the model he left greater than a decade in the past.
“Mr. Wilson has shown that he does not have a full understanding of the business today or the brand’s future potential and remains intractably focused on the past,” Lululemon stated. “His vision for Lululemon appears to be frozen in time, viewing Lululemon through the lens of a founder who has been outside the boardroom for over a decade and away from any operating responsibility within the company for nearly 15 years.”
The public battle started after Lululemon announced that its CEO, Calvin McDonald, was leaving the corporate, capping off a seven-year stint. Just a few months later, Lululemon named former Nike government Heidi O’Neill as its new CEO, beginning in September.
Lululemon’s letter is its first public response to Wilson. He stated that the corporate wants visionary artistic management to thrive” and that its present board members “lack these skills.”
Wilson, who stepped down as CEO in 2005, has accused the corporate of shedding its “cool” issue and routinely attacked its choices. In 2025, he criticized Lululemon’s diversity and inclusion efforts. In a 2018 interview with NCS, he stated he misplaced management of the corporate when it went public and was stifled by its paperwork.
Monday’s pointed letter was launched forward of Lululemon’s subsequent shareholders assembly in June, when they may vote on the board. Wilson didn’t instantly reply for remark.
Lululemon additionally stated that it interviewed Wilson’s picks, and “determined that their appointment would not be beneficial to shareholders and, if elected, would remove critical skills” from the board.
Lululemon’s inventory has misplaced 40% of its worth this yr. It’s been scuffling with tariffs, shopper pullback from discretionary spending and mounting competitors from manufacturers like Vuori and Alo.