Lululemon Athletica's shares spiked Friday after the company’s CEO Calvin McDonald announced his resignation amid declining US sales, with its founder putting the board on notice about a potential proxy battle.
Lululemon Athletica said on Thursday that its CEO, Calvin McDonald, will step down in January, after about seven years at the helm as the yogawear maker navigates a challenging consumer environment in the United States as well as growing competition from newer brands.
Lululemon CEO Calvin McDonald will step down amid slowing sales, tariff pressures and criticism from founder Chip Wilson, sending shares sharply higher.
