Lululemon champions its candidates amid Wilson battle
Lululemon has escalated its battle with founder Chip Wilson ahead of next month’s shareholder meeting, urging investors to support its refreshed board and incoming CEO Heidi O’Neill.
In a lengthy letter accompanying its filing, the company defended its recent strategic reset and warned that Wilson’s attempts to regain influence would “put Lululemon at risk”.
The Canadian company has seen North American momentum slow after years of growth. Annual revenue reached $11.1 billion in fiscal 2025, while operating income rose to $2.2 billion.
Wilson, who stepped away from the board more than a decade ago following a series of controversies, has nominated three directors in an attempt to regain influence. Lululemon argued his candidates lack the governance and apparel expertise required for a global sportswear business of its scale.
Wilson has repeatedly criticised the company’s direction in recent years, saying Lululemon has drifted away from its original product-led identity.
The company defended its choice of directors - Chip Bergh, Esi Eggleston Bracey and Teri List - as executives with experience across consumer brands, retail, finance and innovation.
Shareholders will vote at Lululemon’s annual meeting on June 25.
