Lululemon’s CEO steps down after tripling revenues
Lululemon’s CEO Calvin McDonald is leaving the company but will remain an adviser until April.
The Canadian activewear brand has started a search for a replacement.
Company chairman Marti Morfitt will take on the expanded role of executive chair, while chief financial officer Meghan Frank and chief commercial officer André Maestrini will serve as interim co-CEOs.
Since joining lululemon in 2018, Mr McDonald has helped Lululemon triple its annual revenues, and the company expects to generate $11 billion this fiscal year. He also broadened Lululemon’s reach to over 30 countries and grew the company’s China business into its second largest market. He expanded the product portfolio and added activities such as tennis and golf.
He said: “I believe the outstanding product pipeline we’ve built, and action plan we’ve put into place, will yield positive results, and deliver value to shareholders in the months and years ahead. I am committed to fully supporting the transition and helping guide our leadership team in my advisory role as they execute against our strategy.”
For the third quarter of 2025, revenue increased 7% to $2.6 billion. Americas revenue decreased 2% but international revenue increased 33%.
The company opened 12 net new company-operated stores during the third quarter, ending with 796 stores.
