Lululemon Athletica Inc. announced that Chip Wilson, founder, chairman of the board and chief innovation and branding officer, plans to resign his executive position of chief innovation and branding officer, effective Jan. 29, 2012.
Wilson will continue to serve as chairman of the board of directors of Lululemon.
“I remain deeply committed to the company’s continued success and given the strength we’ve built into the organization over the past three years, I feel comfortable leaving the company with Christine Day at the helm of a world class management team whom I fully believe will continue to elevate our world. I look forward to continuing to contribute in my role as Chairman of the Board,” said Wilson.
“Chip has created a legacy that has inspired the world and the mantle of leadership and care for the culture, values and mission of Lululemon is now in our hands,” said Christine Day, CEO of lululemon. “I am proud to be leading Lululemon and excited about our future.”
Dennis “Chip” Wilson founded Lululemon Athletica in
1998. Wilson had previously made a foray into the sportswear business by
setting up Westbeach Sports in 1979.
In 2005, Advent International partnered with Highland
Capital Partner bought a 48 percent minority interest in Lululemon and former
Reebok chief executive officer Robert Meers became the new Lululemon CEO
to help guide the company through its
IPO in July 2007. In June 2008, Meers retired from his position as CEO and Christine Day, a former Co-President of Starbucks International
who had been running Lululemon's retal
operations, took over as CEO.
