Chip Wilson Proposes Replacing Several Lululemon Directors
Lululemon founder Chip Wilson escalated his proxy battle today by proposing to replace more than three directors. He urged support for new board leadership.
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Chip Wilson, the founder of Lululemon Athletica Inc., has significantly escalated his proxy challenge against the company’s leadership. In a formal letter sent to shareholders on Friday, Wilson called for the replacement of more than three members of the current board of directors, signaling a deepening rift between the founder and the existing management.
