--- title: "Dissatisfied with the board's frequent strategic failures, Lululemon founder initiates a proxy battle" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/271079756.md" description: "Lululemon founder Chip Wilson has initiated a proxy battle, nominating three independent directors to reorganize the board. This move comes after the departure of the company's CEO Calvin McDonald, during which Lululemon's stock price has fallen nearly 50%. The candidates nominated by Wilson include former On Running co-CEO Marc Maurer, former ESPN Chief Marketing Officer Laura Gentile, and former Activision Blizzard CEO Eric Hirshberg. While the board searches for a new CEO, CFO Meghan Frank and COO André Maestrini have been appointed as interim co-CEOs" datetime: "2025-12-30T08:30:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/271079756.md) - [en](https://longbridge.com/en/news/271079756.md) - [zh-HK](https://longbridge.com/zh-HK/news/271079756.md) --- > 支持的语言: [English](https://longbridge.com/en/news/271079756.md) | [繁體中文](https://longbridge.com/zh-HK/news/271079756.md) # Dissatisfied with the board's frequent strategic failures, Lululemon founder initiates a proxy battle According to Zhitong Finance APP, Chip Wilson, the founder of Lululemon Athletica (LULU.US), announced on Monday that he has initiated a proxy battle, nominating three independent directors to the company's board. Just over two weeks ago, the apparel manufacturer announced the departure of CEO Calvin McDonald, but a successor has yet to be determined. This year, Lululemon's stock price has fallen nearly by half, as the company struggles to win the support of young affluent consumers while facing fierce competition from rapidly growing emerging rivals like Alo Yoga and Vuori, as well as pressure from activist investor Elliott Management. ![5047117c1b78bd93f107a42e873f5c85.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20251230/1767082122242699.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Wilson has nominated three director candidates to join the Lululemon board, including former On Running co-CEO Marc Maurer, former ESPN Chief Marketing Officer Laura Gentile, and former Activision Blizzard CEO Eric Hirshberg. While searching for a formal successor, the board has appointed Chief Financial Officer Meghan Frank and Chief Commercial Officer André Maestrini as interim co-CEOs. Earlier reports indicated that Elliott Management, which disclosed holding $1 billion in Lululemon shares earlier this month, has been closely collaborating with former Ralph Lauren executive Jane Nielsen for months to discuss her potential role as CEO. When asked whether Wilson is collaborating with activist investor Elliott Management to push for a board overhaul, a person familiar with Wilson's thoughts stated that he is not working with any other investors. This individual added that Elliott's search for a new CEO will not affect Wilson's plans. Sources say that Wilson has communicated with Nielsen, but any CEO selected by the company before the board overhaul will not receive Wilson's support. In a statement, Wilson said, "The recently announced CEO transition is the third complete failure of board oversight, and there is no clear succession plan. Shareholders do not believe that this board, without more diverse product experience, can select and support the next CEO." Lululemon stated that its board will evaluate Wilson's nominated director candidates in due course according to board governance processes and added that the company has initiated a comprehensive CEO search The board will review and consider Wilson's nomination and will make a formal recommendation in the company's definitive proxy statement before the 2026 annual shareholder meeting. Morningstar analyst David Swartz stated, "The addition of three new board members seems to be a willing move by Lululemon. This at least prevents Wilson from continuously attacking the board. The nominees look good, although only one of the three (Maurer) has direct experience in the industry where Lululemon operates." Wilson may not have fought for a board seat for himself, as he holds a significant stake in Lululemon's competitor, Amer Sports (AS.US). **Wilson's Connection to Lululemon** According to LSEG data, as of December 2025, Wilson is one of Lululemon's largest independent shareholders, holding 4.27% of the shares. The founder of this yoga apparel manufacturer had previously called for an urgent search for a CEO to replace McDonald, led by a group of independent directors with deep knowledge of the company, to restore the company's "product-first" philosophy. This is not the first time Wilson has pushed for changes to Lululemon's board. After founding the apparel company in 1998, Wilson stepped down from day-to-day operations in 2012 and resigned as chairman a year later due to the overly "transparent" yoga pants incident related to a recall for quality issues. This incident sparked a public relations storm that led to the departure of several executives. In 2015, he also resigned from the board due to conflicts with the board over strategic issues. However, a proxy fight was avoided after Wilson agreed to sell about half of his 27% stake to private equity firm Advent International for $845 million in exchange for two additional board seats ### 相关股票 - [Lululemon (LULU.US)](https://longbridge.com/zh-CN/quote/LULU.US.md) ## 相关资讯与研究 - [Lululemon Founder Outraged Over See-Through Leggings: 'A New Low'](https://longbridge.com/zh-CN/news/273555736.md) - [Lululemon Stock Faces Fresh Proxy Fight From Founder Chip Wilson](https://longbridge.com/zh-CN/news/271058154.md) - [How Lululemon's founder is looking to restore investor faith as a new CEO is picked](https://longbridge.com/zh-CN/news/271015536.md) - [Lululemon Founder Pushes Board Shakeup Amid CEO Search: 'This Is The Only Way...'](https://longbridge.com/zh-CN/news/271108125.md) - [BUZZ-Lululemon founder steps up push for board changes; shares slip](https://longbridge.com/zh-CN/news/277221242.md)