EXEC: Lululemon Responds to Founder’s Proxy Fight Moves

In response to Lululemon Athletica’s founder, Chip Wilson, announcing that he has submitted a notice to nominate three director candidates, Lululemon defended the experience of its board, its CEO succession process, and the retailer’s performance since Wilson stepped down from the board in 2015. Lululemon also reported it will evaluate Wilson’s board nominees “in due course in accordance with the Board’s governance process.”