Lululemon Founder Criticizes Succession Plan

Dow Jones12-12 20:44

By Nicholas G. Miller

Lululemon founder Chip Wilson criticized the company for what he called a "failure" to develop an effective succession process after the company said Thursday Chief Executive Calvin McDonald would step down in January.

Wilson, who is also one of the company's largest shareholders, has been pressuring the company to make changes to improve its product innovation and restore its brand image among consumers.

"I am deeply concerned about what appears to be a tremendous failure by the board to competently plan for the future and manage an effective succession process," Wilson said Friday.

"This latest failure... only amplifies the urgency the company faces and the obvious need for the CEO search to be led by new, independent directors with real experience."

The company didn't immediately respond to a request for comment.

Lululemon said Thursday that while it conducts a search for McDonald's replacement, Meghan Frank, finance chief, and Andre Maestrini, chief commercial officer, will serve as interim co-CEOs. The company said its board has established a CEO search committee.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

December 12, 2025 07:44 ET (12:44 GMT)

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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/LULU\">Lululemon</a> founder Chip Wilson criticized the company for what he called a \"failure\" to develop an effective succession process after the company said Thursday Chief Executive Calvin McDonald would step down in January. \n</p>\n<p>\n  Wilson, who is also one of the company's largest shareholders, has been pressuring the company to make changes to improve its product innovation and restore its brand image among consumers. \n</p>\n<p>\n  \"I am deeply concerned about what appears to be a tremendous failure by the board to competently plan for the future and manage an effective succession process,\" Wilson said Friday. \n</p>\n<p>\n  \"This latest failure... only amplifies the urgency the company faces and the obvious need for the CEO search to be led by new, independent directors with real experience.\" \n</p>\n<p>\n  The company didn't immediately respond to a request for comment. \n</p>\n<p>\n  Lululemon said Thursday that while it conducts a search for McDonald's replacement, Meghan Frank, finance chief, and Andre Maestrini, chief commercial officer, will serve as interim co-CEOs. 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Miller \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/LULU\">Lululemon</a> founder Chip Wilson criticized the company for what he called a \"failure\" to develop an effective succession process after the company said Thursday Chief Executive Calvin McDonald would step down in January. \n</p>\n<p>\n  Wilson, who is also one of the company's largest shareholders, has been pressuring the company to make changes to improve its product innovation and restore its brand image among consumers. \n</p>\n<p>\n  \"I am deeply concerned about what appears to be a tremendous failure by the board to competently plan for the future and manage an effective succession process,\" Wilson said Friday. \n</p>\n<p>\n  \"This latest failure... only amplifies the urgency the company faces and the obvious need for the CEO search to be led by new, independent directors with real experience.\" \n</p>\n<p>\n  The company didn't immediately respond to a request for comment. \n</p>\n<p>\n  Lululemon said Thursday that while it conducts a search for McDonald's replacement, Meghan Frank, finance chief, and Andre Maestrini, chief commercial officer, will serve as interim co-CEOs. 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Miller \n\n\n \n\n\nLululemon founder Chip Wilson criticized the company for what he called a \"failure\" to develop an effective succession process after the company said Thursday Chief Executive Calvin McDonald would step down in January. \n\n\n  Wilson, who is also one of the company's largest shareholders, has been pressuring the company to make changes to improve its product innovation and restore its brand image among consumers. \n\n\n  \"I am deeply concerned about what appears to be a tremendous failure by the board to competently plan for the future and manage an effective succession process,\" Wilson said Friday. \n\n\n  \"This latest failure... only amplifies the urgency the company faces and the obvious need for the CEO search to be led by new, independent directors with real experience.\" \n\n\n  The company didn't immediately respond to a request for comment. \n\n\n  Lululemon said Thursday that while it conducts a search for McDonald's replacement, Meghan Frank, finance chief, and Andre Maestrini, chief commercial officer, will serve as interim co-CEOs. The company said its board has established a CEO search committee. \n\n\n \n\n\n  Write to Nicholas G. 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