Chip Wilson has been under intense scrutiny since the company’s see-through-pants scandal in early 2013.
That would be almost 8.5 million pairs of $100 yoga pants.
Corporate boards will typically tolerate a founder’s eccentricities, and even bad behavior, as long as the business is performing well. But as performance declines, so too does tolerance.
Chip Wilson, Lululemon’s founder who stepped down as its chairman in December, warned against reelecting two board members, including his successor. Awkward!
Lululemon said Laurent Potdevin, most recently the president of Toms, will be its new CEO starting in January 2014. It also said controversial founder Chip Wilson will relinquish his role as non-executive chairman but will remain on the retailer’s board.
Rent-free spinning cube in the middle of NYC’s Astor Square? Sign. Me. Up. UPDATE: Yeah, it’s definitely a stunt by lululemon founder Chip Wilson.
A YouTube video of a writer living in New York City’s Astor Place cube has been garnering attention. It was made by Whil, a venture started by Lululemon founder Chip Wilson and wife Shannon Wilson.