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Lululemon Founder Resigning, New CEO Announced

December 10, 2013
Joanna Zelman

Lululemon chairman and co-founder Chip Wilson is stepping down, The Globe and Mail reported Monday night.

According to a Lululemon Athletica press release, Wilson announced his resignation from the position of non-executive chairman. Michael Casey, lead director of the board, will replace Wilson.

The company also announced that Laurent Potdevin, current president of TOMS Shoes, will become Lululemon's chief executive officer, succeeding CEO Christine Day.

According to The Wall Street Journal, Lululemon claims the search for a new CEO was "unrelated" to Wilson's resignation.

The athletic apparel company has faced increased scrutiny over the past few months. In July, insiders told The Huffington Post that discriminating against plus-sized customers was part of the company's strategy.

In November, Wilson came under fire for suggesting that some women's bodies were not made for his brand's yoga pants, saying, "Frankly some women's bodies just don't actually work for [the pants]."

The company's stock tumbled as an analyst at Sterne Agee wrote to clients, "We believe that the core Lululemon customer has been alienated."