Lululemon CEO Calvin McDonald to step down in January

Group 1 - Lululemon is experiencing challenges in maintaining relevance with shoppers and has reported a decline in demand in its largest market, North America [3][6] - The company reported a 7% increase in revenue to $2.6 billion, but sales in the Americas fell by 2%, with comparable sales down 5% in that region [3][6] - CEO Calvin McDonald is stepping down at the end of January after leading the company since 2018, during which time he helped triple annual revenues and expand internationally [4][6] Group 2 - Following McDonald's departure, CFO Meghan Frank and Chief Commercial Officer André Maestrini will serve as interim co-CEOs, while Marti Morfitt will take on an expanded role as executive chair [5][6] - McDonald will receive a total of $3.05 million as part of a separation agreement, along with $2.1 million in severance and a bonus for fiscal 2025 [4] - Frank will have a salary of $950,000, a retention bonus of $1.5 million, and an equity award valued at $4 million, while Maestrini will receive a $750,000 retention bonus and a similar equity award [5]