Lululemon names new CEO; founder Wilson to step down

(Reuters) – Lululemon Athletica Inc (LULU) named a new chief executive on Tuesday, and said founder Chip Wilson will step down as chairman, as the upscale yogawear retailer tries to go global and put a series of embarrassing quality issues and other gaffes behind it. Lululemon said Laurent Potdevin, most recently president of trendy footwear brand TOMS Shoes, will replace Christine Day as CEO in January, and emphasized his role leading TOMS global expansion. Vancouver-based Lululemon, in the early stages of a push into Europe and Asia, was forced to recall some of its signature black stretchy pants in March because they were see-through. She led Lululemon as it became a major retail player, growing at a blistering pace in the United States, a market few Canadian retailers have cracked.


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