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Chip Wilson Launches Proxy Fight to Overhaul Lululemon Board

The campaign puts fresh pressure on a board now choosing a successor to departing CEO Calvin McDonald.

Overview

  • The founder nominated Marc Maurer, Laura Gentile and Eric Hirshberg as independent directors for election at the 2026 annual meeting.
  • He said he will solicit votes via a Gold universal proxy and will submit a nonbinding proposal to immediately declassify the board.
  • Wilson emphasized he is not seeking a seat himself and cast the push as restoring product-first, creative oversight.
  • Lululemon said it will review the nominations under its governance process as the board conducts a CEO search following Calvin McDonald’s planned departure.
  • Elliott Investment Management disclosed a roughly $1 billion stake and is advocating former Ralph Lauren executive Jane Nielsen for CEO, intensifying pressure as the company contends with U.S. sales softness and a roughly 40–45% share slide this year.