Lululemon shares slide after former Nike executive named next CEO

Lululemon Athletica

23/04/2026 15:31

Updates

** Shares of athleisure brand Lululemon LULU.O down as much as 12.40% at $143.19

** Stock set for its worst day since September 5, 2025 if losses hold

** Lululemon names former Nike executive Heidi O'Neill as its next CEO

** Heidi, who is set to replace Calvin McDonald, has served as the president of consumer products and brands at Nike

** The appointment comes amid the retailer's struggles to regain market share and the departure of its former CEO earlier this year

** "While O'Neill brings credible product and brand experience from her 30+ year tenure at Nike, her September start date means that strategic and operational influence will be limited near term," Keybanc said

** As of last close, LULU down 21.4% YTD

(Reporting by Kanchana Chakravarty and Sanskriti Shekhar in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com;))