lululemon athletica’s Board of Directors has appointed Laurent Potdevin as the company’s new CEO and a member of its Board of Directors.
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Potdevin will succeed Christine Day, who has served as the company’s CEO since 2008 and who announced her intention to resign in June 2013. Potdevin is expected to step into his role as Chief Executive Officer in January 2014, and will become a director when he assumes his duties as CEO. Day is expected to remain with lululemon through the end of the company’s fiscal year, ensuring a smooth transition.
In addition, Chip Wilson, lululemon’s founder and the Chairman of its Board of Directors, informed the Board of Directors that he is resigning from the position of non-executive Chairman. Wilson will step down from the role effective prior to the company’s annual meeting in June 2014.
The Board has selected Michael Casey, Lead Director of the Board of Directors, as the next Chairman of the Board. Casey is expected to assume this role upon Wilson’s resignation. This will allow time for an orderly transition and continuity in lululemon’s leadership structure. Wilson will retain a seat on the Board of Directors.
Wilson’s resignation and lululemon’s new leadership comes after the much-publicized controversy over his on-air comments on Bloomberg TV regarding women’s bodies and that his company’s customers should wear yoga pants that are appropriate for their size.
Potdevin comes to lululemon having most recently served as President of TOMS Shoes, a giving company founded on the mission that it would match every pair of shoes purchased with a pair of new shoes given to a child in need.
Prior to TOMS, Potdevin held numerous positions at Burton Snowboards, the world’s foremost snowboard company, for more than 15 years, including President and CEO from 2005-2010. His earlier roles at Burton included President and COO as well as Director of Operations.
He began his career in 1991 at LVMH and received his Masters Degree in Engineering from Ecole Polytechnique Federale de Lausanne, Switzerland and his MBA from Ecole Superieure des Sciences Economiques et Commerciales, Paris, France.