WASHINGTON (dpa-AFX) - Lululemon Athletica Inc. (LULU) announced that Calvin McDonald will step down as Chief Executive Officer and member of the Board of Directors, effective January 31, 2026. To ensure a seamless transition, McDonald will continue to serve as a senior advisor to the company until March 31, 2026. The Board has partnered with a leading executive search firm to conduct a comprehensive process to identify the company's next CEO.
The company also confirmed that Marti Morfitt, Chair of the Board, has assumed the expanded role of Executive Chair, effective immediately. This move is designed to maintain focus on Lululemon's near- and long-term growth strategy during the leadership transition.
Following McDonald's departure, Chief Financial Officer Meghan Frank and Chief Commercial Officer André Maestrini will serve as interim co-CEOs. Both executives bring extensive global retail expertise and proven track records of driving growth at Lululemon, and will oversee all aspects of the business until the conclusion of the CEO search process.
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