lululemon athletica Founder Chip Wilson Sees 'No Reason' Resolution Can't Be Reached

MT Newswires Live05-19

Lululemon athletica (LULU) founder and major shareholder Chip Wilson said on Monday he sees "no reason why we cannot reach a resolution to this fight quickly" as settlement talks with the company's board continue.

Wilson said both sides appeared to be aligned on principal terms last week and added he remains "willing to be constructive" in negotiations with the board.

The statement disclosed details of discussions between Wilson and lululemon and added that Wilson said he agreed "in principle" to the eight proposed terms.

Wilson said his focus was on ensuring lululemon has "the right skills on the Board" and that "brand/product expertise is prioritized." He also rejected suggestions he wanted to dictate company strategy, saying that it "is just wrong."

Price: 119.73, Change: +0.59, Percent Change: +0.50

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