Chip Wilson Nominates Three Independent Director Candidates for Election to the lululemon athletica inc. Board of Directors

Core Viewpoint - The nomination of three independent director candidates aims to restore confidence in lululemon's Board and facilitate the company's transformation to enhance long-term shareholder value [1][2][4]. Group 1: Board Changes and Nominees - Chip Wilson, the founder and a major shareholder of lululemon, has nominated three highly qualified candidates for the Board of Directors to be elected at the 2026 Annual Meeting [1]. - The nominees are Marc Maurer, Laura Gentile, and Eric Hirshberg, each bringing significant experience in leadership and brand development [2][5]. - Wilson emphasizes the need for a refreshed Board to ensure effective oversight and support for the next CEO, as the current Board has failed to provide a clear succession plan [4]. Group 2: Nominee Profiles - Marc Maurer: Former Co-CEO of On Holding AG, where he led the company to nearly quadruple its revenue and expand globally [6]. - Laura Gentile: Former CMO of ESPN, recognized for her role in establishing espnW and achieving record viewership and engagement for ESPN [7]. - Eric Hirshberg: Former CEO of Activision, where he oversaw significant growth in profitability and stock performance, with a 500% increase in stock value during his tenure [8]. Group 3: Governance Proposal - Wilson has proposed that the Board declassify its structure to allow for annual elections of all directors, aligning lululemon with best practices as only about 10% of S&P 500 companies have staggered elections [1].