Chip Wilson, founder of Lululemon Athletica, has nominated three high-profile executives to the Canadian activewear brand’s board of directors as the company navigates a significant leadership transition. The nominations come at a critical juncture for the struggling retailer, which is undergoing substantial organizational change following recent executive departures and investor involvement.
New Board Candidates Bring Industry Expertise
The three nominees represent a shift toward greater industry experience and creative leadership. Marc Maurer, former co-CEO of On Holding, Laura Gentile, ex-chief marketing officer of ESPN, and Eric Hirshberg, former CEO of Activision, will stand for election at Lululemon’s 2026 Annual Meeting of Shareholders. Wilson has also proposed a non-binding resolution to declassify the board, ensuring all directors face annual shareholder election.
CEO Departure Signals Broader Leadership Overhaul
The board changes follow CEO Calvin McDonald’s announcement that he will step down on January 31, 2026. McDonald’s departure reflects Lululemon’s period of underperformance and mounting pressure from stakeholders for significant management restructuring. Meanwhile, Elliott Investment Management has acquired a substantial stake worth over one billion dollars, positioning itself as a major investor alongside Wilson.
Wilson criticized the current board’s lack of product expertise and vision, stating the company requires “visionary creative leadership” to regain market confidence. He characterized McDonald’s departure as a board failure stemming from inadequate succession planning. Industry observers suggest Elliott is pursuing former Ralph Lauren executive Jane Nielsen as the next CEO as both major investors work to revitalize the brand amid challenging U.S. market conditions.