DJofSD
12-10-2013, 10:22 AM
http://www.bloomberg.com/news/2013-12-10/lululemon-s-founder-chip-wilson-to-give-up-chairman-s-role.html
Lululemon Athletica Inc. (LULU) said founder Chip Wilson, whose presence analysts have said scared off potential chief executive officer candidates, will step down as chairman and named TOMS Shoes President Laurent Potdevin CEO.
Wilson came under fire last month after saying in an interview on Bloomberg Television that Lululemon’s pants “don’t work for some women’s bodies.” He apologized a week later.
Saad said that Wilson appeared to be “operating without a clear delineation” of duties and that may be having a negative effect on the company’s public image while also hurting the CEO search.
“As Laurent joins as CEO, I believe that now is the right time for me to begin to transition out of my role as chairman of the board,” Wilson said in today’s statement.
Lululemon Athletica Inc. (LULU) said founder Chip Wilson, whose presence analysts have said scared off potential chief executive officer candidates, will step down as chairman and named TOMS Shoes President Laurent Potdevin CEO.
Wilson came under fire last month after saying in an interview on Bloomberg Television that Lululemon’s pants “don’t work for some women’s bodies.” He apologized a week later.
Saad said that Wilson appeared to be “operating without a clear delineation” of duties and that may be having a negative effect on the company’s public image while also hurting the CEO search.
“As Laurent joins as CEO, I believe that now is the right time for me to begin to transition out of my role as chairman of the board,” Wilson said in today’s statement.