Lululemon founder nominates three board members as leadership remains in limbo

Chip Wilson, the founder of Lululemon Athletica, has nominated three executives for the Canadian activewear brand’s board of directors as the company’s leadership remains at a crossroads.

Among the nominees, each of whom will stand for election at Lululemon’s 2026 Annual Meeting of Shareholders, Wilson has put forth Marc Maurer, the former co-CEO of On Holding; Laura Gentile, the former chief marketing officer of ESPN; and Eric Hirshberg, the former CEO of Activision.

Wilson has also submitted a non-binding proposal calling for the board to declassify so that all directors are elected annually by shareholders.

The move comes weeks after it was confirmed that Lululemon’s CEO, Calvin McDonald, was due to step down from the role, upending the company’s leadership team.

His departure, set for January 31, 2026, falls amid a period of underperformance for Lululemon, leading to calls for significant change to management, particularly by Wilson, who had previously stated the brand needed an infusion of new skills.

Following McDonald’s announcement, sources for Reuters reported that Elliott Investment Management had stepped in to snap up a stake in Lululemon worth over one billion dollars. The firm is believed to be pursuing the CEO role with former Ralph Lauren exec Jane Nielsen.

Elliott is now believed to be among Lululemon’s biggest investors alongside Wilson. Both have expressed intentions to help revive the ailing retailer, particularly in the wake of an increasingly challenging US business environment.

Upon announcing his board nominees, Wilson said in a statement: “As I have stated for years, Lululemon needs visionary creative leadership to thrive. The simple truth is that the current board lacks these skills and, as a result, Lululemon is unable to win back the confidence of its critical stakeholders and regain commercial momentum.

“The nominees I put forward today are the change that is needed to redefine Lululemon and begin this company's next chapter of success.”

Wilson went on to state that the CEO change was a “failure” by the board due to the lack of a succession plan. “Shareholders have no faith that this board can select and support the next CEO without input from a board with stronger product experience. The board must be refreshed so that creative, brand-first experience is empowered,” he added.