Lululemon founder Chip Wilson launches proxy fight for board shakeup as CEO exit nears
NEW YORK, December 29, 2025, 12:27 ET Lululemon Athletica founder Dennis “Chip” Wilson said on Monday he has launched a proxy fight to reshape the company’s board, nominating three independent director candidates. The Wall Street Journal first reported the move, which was also covered by Canadian outlets including CTV News (https://www.ctvnews.ca/business/article/lululemon-founder-launches-proxy-fight-for-board-changes-wsj-reports/), CBC (https://www.cbc.ca/news/business/lululemon-proxy-fight-chip-wilson-board-changes-9.7029060) and The Globe and Mail (https://www.theglobeandmail.com/business/article-lululemon-chip-wilson-proxy-fight-board-changes/). The board challenge lands as the athleisure maker enters a leadership transition, with CEO Calvin McDonald set to leave in January and no named successor. Investors have been watching closely after Lululemon’s shares fell about 45% this year. Lululemon has struggled