Chip Wilson steps down from Lululemon’s board
03/02/2015
Chip Wilson said the move will enable him to concentrate on new brand Kit and Ace, a performance wool brand launched with his wife and son.
Following the company’s recall of 17% of pants due to the luon being too sheer, Mr Wilson suggested some women’ bodies didn’t work for the shape, a mistake which wiped a third off the share price.
He stepped down as chairman in 2013 but stayed on as a director. He still owns about 14% of the company.
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