Company statement cites standards of conduct
Vancouver-based clothing manufacturer Lululemon Athletica Inc. has announced in a statement that CEO Laurent Potdevin has resigned effective immediately for falling short of the company’s standards of conduct. Potdevin took over from the previous chief executive, Christine Day, four years ago.
Lululemon is already looking for a new CEO. Meanwhile, executive chairman Glenn Murphy will take on an expanded role along with three of the company’s senior leaders: Celeste Burgoyne, EVP, Americas, will oversee all channel and brand-facing aspects of the global business, including stores and e-commerce, as well as brand marketing; COO Stuart Haselden will be responsible for finance, supply chain, people and technology; and Sun Choe, SVP of merchandising, will guide all aspects of product development, design, innovation and merchandising.
“Culture is at the core of Lululemon, and it is the responsibility of leaders to set the right tone in our organization,” Murphy said in the statement. “Protecting the organization’s culture is one of the Board’s most important duties.”