Chip Wilson, the founder of Lululemon Athletica, Inc., and still one of its largest company shareholders, is not handing out many presents to the LULU Board of Directors this holiday season as he continues to make waves about the management of the company and the selection of a new CEO after the current CEO, Calvin McDonald, at the end of January 2026.

Wilson has nominated three independent director candidates, including the former Co-CEO of On Holding, for election to the Lululemon Board of Directors at the 2026 Annual Meeting of Shareholders. At the same time, Wilson said he submitted a non-binding proposal that calls for the Board to immediately declassify so that all directors are elected annually by shareholders. He made the point in his media release to emphasize that only approximately 10 percent of S&P 500 companies have staggered director elections, including Lululemon.

Wilson introduced his Board director nominees as follows:

Marc Maurer, the former co-CEO of On Holding AG, led the company’s growth and profitability. While in the role as Co-CEO, On experienced global brand expansion, retail and direct-to-consumer scaling and nearly quadrupled revenue.

Laura Gentile, the former chief marketing officer of ESPN, oversaw creative output, fan engagement, media strategy, event marketing, and social media for the company’s brands, platforms, shows, and events. Under Gentile’s leadership, ESPN was reported to be the “No. 1 most trusted brand in sports media and achieved record viewership and social engagement.”

Eric Hirshberg, the former CEO of Activision, is the largest segment of Activision Blizzard. Activision Blizzard’s stock rose 500 percent, and Activision’s segment profit nearly doubled during Hirshberg’s close to eight years in the role. He oversaw leading franchises, including Call of Duty, Destiny, Guitar Hero, and Skylanders. Prior to joining Activision, Hirshberg was co-CEO and chief creative officer at Deutsch LA, where he grew the agency into a nationally recognized creative brand.

Wilson issued the following statement regarding the nominees:

“It is clear to the world that Lululemon is special, but in need of change. 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.

My passion for the Lululemon Athletica muse has never changed, but I know this campaign for change cannot be about me. It is about recommitting Lululemon to genuine creative leadership that will re-establish a brand of enduring strength. That is why we have put forward three fully independent and world-class creative leaders to make the Board more effective and accountable.

The recent CEO change announcement was the third total failure of Board oversight, with no clear succession plan in place. 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 a creative, brand-first experience is empowered. This is the only way to restore shareholder confidence and set Lululemon back on the path to growth, product innovation and premium quality.

It is clear to me that these independent, highly accomplished nominees will be an asset to Lululemon. They can play an essential role in refocusing on the inspirational customer, revitalizing its bold vision, attracting the best people and maximizing value for all shareholders.”

The move by Wilson comes on the heels of news that activist investor Elliott Management had acquired a stake of over $1 billion in Lululemon Athletica and intended to push its candidate, Jane Nielsen, the former CFO and COO at Ralph Lauren, as a potential CEO candidate to replace current CEO Calvin McDonald.

Wilson, in mid-December, called for strategic changes at the retailer and criticized the Lululemon Board’s succession planning process following the McDonald departure announcement. Wilson said the succession planning should be led by “new, independent directors with real experience.”

In October, Wilson took out a full-page advertisement in The Wall Street Journal detailing his dissatisfaction with the Board.

Image courtesy Lululemon