Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and, according to the company’s press release, Potdevin“ fell short of these standards of conduct.” Lululemon reports that the Board of Directors has begun the search for a global CEO.
Glenn Murphy, Executive Chairman of the Board said, “Culture is at the core of Lululemon, and it is the responsibility of leaders to set the right tone in our organization. Protecting the organization’s culture is one of the Board’s most important duties.”
Three executives will assume expanded roles, and will report to Murphy. Celeste Burgoyne, Executive Vice President, Americas, will be responsible for overseeing all channel and brand-facing aspects of the global business, including stores and e-commerce, as well as brand marketing. Stuart Haselden, Chief Operating Officer, will be responsible for all operations related to finance, supply chain, people and technology. Sun Choe, Senior Vice President of Merchandising, will guide product development, design, innovation and merchandising.
Lululemon reaffirmed the updated guidance that it provided on January 8, 2018, and reported that it is on track to achieve its strategic goal of reaching $4 billion in revenues by 2020.