Lululemon Settles Dispute With Founder -- WSJ

Dow Jones

May 27

By Suzanne Kapner and Lauren Thomas

Lululemon Athletica is making peace with company founder Chip Wilson.

The two sides have reached a deal that will allow Wilson to name two new directors to the company's board after its annual meeting in June. The company also agreed to add a third director with product and brand expertise in apparel to the board by Oct. 1.

In exchange, Wilson will agree to an 18-month standstill and nondisparagement agreement.

Wilson has criticized the company for years, arguing publicly that it has lost its cool and ceded its leadership in the technical-apparel industry to newer rivals. He ratcheted up his complaints in December, when he launched a proxy fight seeking to overhaul the company's board.

The two sides were close to a settlement last week, but discussions fell apart at the last minute. Following the collapse of talks, Lululemon launched a counterattack, urging shareholders to reject Wilson's nominees and instead vote for its own slate, which it called "vastly superior to Wilson's."

Write to Suzanne Kapner at suzanne.kapner@wsj.com and Lauren Thomas at lauren.thomas@wsj.com

(END) Dow Jones Newswires

May 27, 2026 07:46 ET (11:46 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The company also agreed to add a third director with product and brand expertise in apparel to the board by Oct. 1. \n</p>\n<p>\n  In exchange, Wilson will agree to an 18-month standstill and nondisparagement agreement. \n</p>\n<p>\n  Wilson has criticized the company for years, arguing publicly that it has lost its cool and ceded its leadership in the technical-apparel industry to newer rivals. He ratcheted up his complaints in December, when he launched a proxy fight seeking to overhaul the company's board. \n</p>\n<p>\n  The two sides were close to a settlement last week, but discussions fell apart at the last minute. Following the collapse of talks, Lululemon launched a counterattack, urging shareholders to reject Wilson's nominees and instead vote for its own slate, which it called \"vastly superior to Wilson's.\" \n</p>\n<p>\n  Write to Suzanne Kapner at suzanne.kapner@wsj.com and Lauren Thomas at lauren.thomas@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2026 07:46 ET (11:46 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LULU","symbol_name":"lululemon athletica","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2638812507","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2638812507","pubTimestamp":1779882360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Lululemon Athletica is making peace with company founder Chip Wilson.The two sides have reached a deal that will allow Wilson to name two new directors to the company's board after its annual meeting in June. 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The company also agreed to add a third director with product and brand expertise in apparel to the board by Oct. 1. \n\n\n  In exchange, Wilson will agree to an 18-month standstill and nondisparagement agreement. \n\n\n  Wilson has criticized the company for years, arguing publicly that it has lost its cool and ceded its leadership in the technical-apparel industry to newer rivals. He ratcheted up his complaints in December, when he launched a proxy fight seeking to overhaul the company's board. \n\n\n  The two sides were close to a settlement last week, but discussions fell apart at the last minute. Following the collapse of talks, Lululemon launched a counterattack, urging shareholders to reject Wilson's nominees and instead vote for its own slate, which it called \"vastly superior to Wilson's.\" \n\n\n  Write to Suzanne Kapner at suzanne.kapner@wsj.com and Lauren Thomas at lauren.thomas@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 27, 2026 07:46 ET (11:46 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}