19:46:06 EST Wed 31 Dec 2025
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Lululemon CDR (CAD Hedged)
Symbol LULU
Shares Issued 16,850,000
Close 2025-12-30 C$ 9.28
Market Cap C$ 156,368,000
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Globe says Lululemon responds to Wilson's proxy threat

2025-12-31 08:14 ET - In the News

The Globe and Mail reports in its Wednesday edition that Lululemon is assuring its senior leadership that the company's current strategy remains unchanged for now, after a proxy bid from founder Chip Wilson. The Globe's Irene Galea writes that in a letter to senior leaders, sent Monday and filed with the U.S. securities regulator Tuesday, Lululemon chief financial officer Meghan Frank said the company will continue "business as usual" and that Lululemon's leadership and board remain confident in its strategy. "Chip's comments do not change our priorities or focus," Ms. Frank said in the letter. "The best way you can help is by remaining focused on your day-to-day roles and responsibilities, and meeting our goals." On Monday, Mr. Wilson nominated three new directors to the board for a shareholder vote at the company's next annual meeting. He insisted that the next chief executive officer appointment should take place only after significant changes to the board. CEO Calvin McDonald is leaving the company in January, and Mr. Wilson called the lack of clear succession planning a "total failure of board oversight." The letter tells the company's leadership not to engage with media or investors in light of disclosure rules.

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