Lululemon founder escalates board fight by demanding removal of Advent and legacy directors
Founder Chip Wilson is pushing to remove private equity firm Advent from the Lululemon board. This move follows a billion-dollar stake by Elliott Management.
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Chip Wilson chip wilson, the founder of Lululemon Athletica Inc. , has significantly escalated his ongoing governance battle by seeking the immediate removal of private equity firm Advent from the company board. This move, reported on January 19, marks a strategic intensification of the proxy fight that the founder originally initiated in late December. Alongside the removal of the private equity firm, Wilson is demanding the resignation of two legacy directors, a group that includes board chair David Mussafer david mussafer.
The founder, who remains one of the largest independent shareholders in the United States 
USretail giant, held a 4.27 percent stake in Lululemon Athletica Inc.as of December 2025. When he launched his campaign last month, he nominated three independent directors to serve on the board. Despite his active involvement in reshuffling the leadership, Chip Wilsonhas explicitly stated that he does not want a board seat for himself. However, he remains firm on his requirements for a resolution, stating he will not consider a settlement unless the two legacy directors, including David Mussafer, step down.
USretail giant, held a 4.27 percent stake in Lululemon Athletica Inc.as of December 2025. When he launched his campaign last month, he nominated three independent directors to serve on the board. Despite his active involvement in reshuffling the leadership, Chip Wilsonhas explicitly stated that he does not want a board seat for himself. However, he remains firm on his requirements for a resolution, stating he will not consider a settlement unless the two legacy directors, including David Mussafer, step down.
