NEW YORK - The founder of Lululemon (LULU) is stepping down as chairman after raising some ire with comments his about potential buyers of the retailer's yoga gear.
Chip Wilson said in a recent
television interview that some women's bodies "just don't actually
work" for Lululemon pants.
The Canadian company named lead
director Michael Casey as chairman. Wilson will resign before the company's
annual meeting in June.
Lululemon Athletica Inc. also said
Tuesday that it is appointing Laurent Potdevin as its next CEO. He succeeds
Christine Day, who announced in June that she planned to resign.
Potdevin is expected to become CEO in
January. He will also become a board member at that time.
Day is anticipated to stay with
Lululemon through the end of its fiscal year to help with the transition