Lululemon responds to founder Chip Wilson's board nomination dispute

Lululemon Athletica Inc. (NASDAQ: LULU) issued a statement addressing founder Chip Wilson's nomination of three director candidates for the company's 2026 annual shareholder meeting.

The athletic apparel company said it has engaged with Wilson over recent months through numerous meetings but disagrees with his characterization of interactions with the board. The company stated that Wilson indicated he would not allow the board to meet with his director nominees unless the board agreed to a full set of settlement terms.

According to the company, the board has repeatedly requested the opportunity to interview Wilson's director candidates. To date, Wilson has only permitted one nominee, Marc Maurer, to have preliminary conversations with the board.

The Vancouver-based company expressed that Wilson has been unwilling to have a constructive dialogue toward a reasonable resolution. Lululemon said the board remains open to engaging with Wilson and other shareholders and will continue taking actions it believes serve the best interests of all shareholders.

The dispute appears to center on Wilson's push to place three director candidates on Lululemon's board, with the company indicating that settlement discussions have not reached a resolution.

Lululemon plans to file a proxy statement on Schedule 14A and accompanying materials with the Securities and Exchange Commission in connection with the 2026 annual meeting of stockholders, according to the company's statement.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Realty Income closes $1B convertible notes offering
• VICI Properties closes $1.75B senior unsecured notes offering