Elliott Management amasses $1B stake in Lululemon as battle for new CEO heats up

Activist investor Elliott Management amassed a $1 billion stake in Lululemon Athletica as the battle for a new CEO of the yoga retailer heats up, according to a report.A week after Lululemon’s chief executive Calvin McDonald announced that he’s stepping down in January, at least two major investors in the Vancouver-based company are angling to install new leadership at the struggling athleisure company. 4 After seven years as CEO of Lululemon Calvin McDonald is stepping down in January. REUTERSNew York Ci ...