Executive Summary

Lululemon, the healthy lifestyle-inspired athletic apparel company announced that Laurent Potdevin has resigned as CEO and as a member of the company’s Board of Directors, effective immediately.

• According to the company’s press release, Lululemon expects “all employees to exemplify the highest levels of integrity and respect for one another,” and Potdevin“ fell short of these standards of conduct.”
• Three executives will assume expanded roles and will report to Glenn Murphy, Executive Chairman of the Board.
• Lululemon reaffirmed its updated guidance from January 8 and affirmed it is on track to achieve its strategic goal of becoming a $4 billion revenue brand by 2020.