Lululemon's CEO Search Just Got More Complicated
Activewear retailer (NASDAQ: LULU) has been struggling to remain relevant in its core U.S. market. The company is facing more competition than ever before, and management has been slow to recognize that its core products have become stale in the eyes of consumers. Comparable sales in the Americas tumbled by 5% in the third quarter, continuing a years-long trend.
Earlier this month, Lululemon announced that CEO Calvin McDonald would step down at the end of January after leading the company since 2018. McDonald will depart without a clear succession plan in place. Instead, the board of directors is currently searching for a permanent replacement.
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Source Fool.com
Lululemon Athletica Inc. Stock
€138.40
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