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Stock impact report

Lululemon names Nike vet Heidi O'Neill CEO [Yahoo! Finance]

lululemon athletica inc. (LULU) 
Last lululemon athletica inc. earnings: 3/26 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lululemon.com
Company Research Source: Yahoo! Finance
Dive Brief: Lululemon has named 28-year Nike veteran Heidi O'Neill as its next CEO effective Sept. 8, the company announced Wednesday. She will also join the board at that time. Meghan Frank and André Maestrini, who have been leading the company as co-CEOs, will continue to do so in the interim and then return to their previous roles as CFO and chief commercial officer, respectively. The appointment comes three months after former CEO Calvin McDonald stepped down in the midst of softening sales in North America and heavy criticism from founder Chip Wilson Dive Insight: Lululemon has found its next CEO at rival Nike. O'Neill, who left Nike last May as part of a restructuring under CEO Elliott Hill, takes the reins at Lululemon during a critical juncture. The activewear brand, widely credited with popularizing athleisure, has run into roadblocks in recent years as consumer demand in the U.S. has slowed. McDonald acknowledged that the retailer's product had become too predic Show less Read more
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