Lululemon Appoints Laurent Potdevin as New CEO; Founder Chip Wilson Steps Down.
Okay, so really short article. I don’t have much to say. One could say I’m speechless. Anyway, here’s the link to the press release announcing the appointment. If you want more info, here’s another link where you can find additional information and listen to this morning’s conference call. Laurent, as you know, spent a lot of years at Burton Snowboards (as the press release calls it) and was President and CEO from 2005 to 2010. More recently, Laurent was President of Toms Shoes.
Lululemon founder Chip Wilson is stepping down as CEO but will remain as a member of the board of directors. I imagine most of you are aware of Chip’s roots in action sports with Westbeach, which he found around 1980. You are probably also aware that some of his recent comments about some women’s bodies just not working for Lululemon clothing have pissed off a bunch of people. Strangely enough, that issue didn’t get mentioned in the conference call or press release.
Michael Casey, Lead Director of the Lululemon Board of Directors, will be their next Chairman of the Board. In introducing the new CEO, he described Laurent’s experience at Burton this way:
“During his time at the company, he helped the company grow far beyond its roots in snowboarding to become a truly global brand synonymous with the sport and lifestyle.”
There was time for just three or four questions from analysts. They generally focused on Laurent’s background and experience as it related to Lululemon.
That’s it. I look forward to the comments and discussion on my web site.
