NEW YORK— Lululemon Athletica Inc. is hoping new faces at the top will help it bounce back from a series of embarrassing issues that have hurt its image.
The upscale yoga clothing maker, based in Vancouver, announced that founder Chip Wilson is stepping down as chairman after raising ire with his comments about the body types of potential buyers of the retailer’s yoga pants. The company also named a new CEO.
Wilson, who founded the company in 1998 and still exerted a strong influence, will retain his board seat.
Christine Day, who had been CEO since 2008 but announced her intentions to leave in June, will be succeeded by Laurent Potdevin. Potdevin, a 20 year-industry veteran, was most recently CEO of Toms Shoes.