Activist investor Elliott Management acquires $1bn Lululemon stake

US-based Elliott Management has built a stake exceeding $1bn in Canadian retailer Lululemon Athletica. Reuters reports that the activist investor is preparing to push to change the company’s CEO. The hedge fund has been working for months with retail executive Jane Nielsen, former chief financial officer and chief operating officer of Ralph Lauren. Elliott Management views her as a potential contender for Lululemon’s CEO role. With its latest investment, Elliott has become one of the Canadian athletic ...