Overview
- Wilson said he nominated three independent directors — Marc Maurer, Laura Gentile and Eric Hirshberg — confirming a board challenge first reported by the Wall Street Journal.
- He is not seeking a board seat himself and criticized the current directors over succession planning, urging a product-focused CEO search.
- Lululemon previously said CEO Calvin McDonald will step down in January, and the company has begun the process to select a successor.
- Elliott Management disclosed about a $1 billion stake this month, and Reuters reported the fund has been working with former Ralph Lauren executive Jane Nielsen as a potential CEO candidate.
- Wilson plans to file definitive proxy materials and proposed declassifying the board, steps that would enable shareholders to vote on all directors annually.