9:43 ET - Lululemon Athletica founder Chip Wilson said Lululemon's disclosure Tuesday that lead director David Mussafer, the managing partner of private equity firm Advent International, would not stand for re-election, is "a step in the right direction," but falls short of his goal to refresh the board. Three Lululemon directors who are tied to Advent remain on the board and Wilson would like to see them step down as well. " I am prepared to continue the effort for as long as necessary to effectuate the quantum of change required to return lululemon to its premium position," Wilson said. Wilson said he was disappointed with the selection of Chip Bergh, who led a turnaround of Levi Strauss as its CEO and spent 28 years at Procter & Gamble, to replace Mussafer on the board. "Bergh's resume from the companies he has led and on whose boards he has served have struggled for years against their peers," Wilson said.

(END) Dow Jones Newswires

March 18, 2026 09:43 ET (13:43 GMT)

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