Chip Wilson nominates three directors for lululemon board

Chip Wilson, founder and major shareholder of lululemon athletica inc. (NASDAQ: LULU), nominated three independent director candidates for election to the company's board at the 2026 annual meeting of shareholders.

The nominees are Marc Maurer, former co-chief executive officer of On Holding AG; Laura Gentile, former chief marketing officer of ESPN; and Eric Hirshberg, former chief executive officer of Activision.

Maurer served as co-CEO of On from January 2021 to June 2025, during which the company's revenue nearly quadrupled. Gentile was ESPN's chief marketing officer from January 2018 to November 2023 and founded espnW, ESPN's platform for women's sports. Hirshberg led Activision from 2010 to 2018, overseeing franchises including Call of Duty and Destiny.

Wilson also submitted a non-binding proposal calling for the board to declassify so all directors are elected annually by shareholders. According to the press release, only approximately 10 percent of S&P 500 companies have staggered director elections, including lululemon.

"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," Wilson stated in the release.

Wilson cited the recent CEO change as "the third total failure of Board oversight with no clear succession plan in place." He argued that board refreshment is necessary before CEO selection to ensure shareholder confidence in the decision.

Wilson intends to file a definitive proxy statement with the Securities and Exchange Commission to solicit shareholder proxies for the annual meeting. The participants in the proxy solicitation collectively own 9,904,856 shares of lululemon common stock, according to the filing.

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