Elliott Management Takes $1 Billion Stake In Lululemon, Proposes Former Ralph Lauren Executive As New CEO: Report - BP (NYSE:BP), Lululemon Athletica (NASDAQ:LULU)

Activist investor Elliott Investment Management has reportedly acquired an over $1 billion stake in Lululemon Athletica (NASDAQ:LULU) and is proposing a new CEO to help the athletic apparel retailer recover from its recent struggles.Lululemon Faces Leadership ShakeupElliott is collaborating with seasoned retail executive Jane Nielsen, a former CFO and COO at Ralph Lauren (NYSE:RL) , who is being considered as a potential CEO for Lululemon, The Wall Street Journal reported on Wednesday. Lululemon and Elliott ...