Lululemon founder steps up push for board changes; shares slip

Lululemon Athletica

27/02/2026 15:21

** Shares of Lululemon Athletica LULU.O fall ~3% to $181.59 amid broader market declines

** Founder Chip Wilson ramps up campaign for board changes; proposes replacing more than three directors

** "While we have proposed changing three directors, our strong feeling is that more than three directors should be replaced," Wilson says in a letter to shareholders

** Adds, he has spent months pursuing "private, constructive dialogues" with the board but attempts to reach a "sensible solution have not been reciprocated"

**  At the end of last year, Wilson had launched a proxy fight by nominating three independent directors to the LULU's board, and called for annual board elections

** Stock down ~12% YTD, including session's moves

 (Reporting by Krisha Bhatt & Anuja Bharat Mistry in Bengaluru)

 ((Krisha.Bhatt@thomsonreuters.com;))