The activist investor is bringing a CEO candidate to the struggling retailer after it announced last week Calvin McDonald would step down in January.
In this article
Activist investor Elliott Investment Management has built a stake of more than $1 billion in Lululemon Athletica
and is bringing a potential CEO candidate to the table, a person familiar with the matter told CNBC.
Lululemon’s stock rose 6% in early trading Thursday.
Last week, Lululemon announced CEO Calvin McDonald would step down effective Jan. 31, following a year-long performance slump for Lululemon.
Elliott has amassed a stake of more than $1 billion in Lululemon, and it has brought along Jane Nielsen as a potential CEO…
Lululemon's CEO Calvin McDonald will leave the athleisure retailer at the end of January as sales in its largest market sag and…
Lululemon CEO Calvin McDonald announced his retirement as the Canada-based company's sock value spiked more than 9% in premarket…
The board said it was conducting a comprehensive search in partnership with a leading executive search firm to select his…
Calvin McDonald's decision to leave at the end of January comes amid a run of poor sales for the firm in the US.
Many analysts are skeptical that a turnaround in Lululemon's U.S. product offerings will be swift enough to warrant conviction on…
