Lululemon reaches agreement with founder to appoint some of his board nominees - BNN Bloomberg
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Heuristic (v1/v3)
0.00 · CENTER
ML v2 (DistilBERT)
0.247 · RIGHT
Ensemble
0.123 · CENTER
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Article Excerpt
Lululemon Athletica Inc. has headed off a showdown at its upcoming meeting by signing an agreement with its estranged founder who was hell-bent on spurring change at the retailer.
The agreement announced Wednesday puts two of Chip Wilson’s three nominees on the board of the Vancouver-based company in exchange for the entrepreneur quelling his attacks on the brand.
The nominees due to take a seat, pending shareholder approval, are former ESPN chief marketing officer Laura Gentile and former On co-CEO Marc Maurer.
Wilson’s other nominee ex-Activision CEO Eric Hirshberg was not part of the dea…
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