Dive Summary:
- Lululemon Athletica has announced surprising news that its current CEO Christine Day will resign the position but will remain until a successor is named, according to sources. The move is part of a company-wide “transition plan” currently underway.
- The popular Canadian company athletic apparel company has experienced a recent spike in growth with its line of “yoga inspired” athletic gear and yoga apparel.
- Day has served as CEO of the company for the last five years after a previous 20-year-stint with Starbucks. The circumstance surrounding Day’s resignation is reported as a “personal decision” according got a statement released by Day.
From the article:
In a statement, Day said "it is the right time" for the change at the top: "Plans have been laid for the next five years and a vision set for the next ten. Now is the right time to bring in a CEO who will drive the next phase of Lululemon's development and growth. I will continue to actively lead the organization while the Board searches for a new CEO, and will work to ensure a smooth transition."
