The Financial Post reports in its Wednesday edition that Chip Wilson, founder of Lululemon, responded to criticism, seeking a constructive path forward and suggesting a possible resolution.
A Bloomberg dispatch to the Post reports that Mr. Wilson said in a statement: "There is no reason why we cannot reach a resolution to this fight quickly. The board has not provided me with details on where our disagreements lie right now, but as of Friday last week, we seemed to be in full agreement on the principal terms."
Mr. Wilson said he's been in negotiations with Chip Bergh, who's in contention to become a board member, about a series of proposals, mostly related to the composition of the board.
Mr. Wilson has applied pressure for changes to the board, arguing the retailer needs new directors to help find a way out of a sales slowdown that's hit the stock.
Also on Monday, Lululemon rejected Mr. Wilson's overtures to install new board members in a letter to investors. It set a shareholder vote for next month on its preferred slate of directors.
Lululemon said Mr. Wilson has hurt shareholders with his criticisms of the board and that his nomination of three directors is an attempt to regain influence over the company.
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