Lululemon Looks for New Leader After CEO Exits on Misconduct
- Potdevin’s behavior ‘fell short’ of standards of behavior
- Former Gap chief Glenn Murphy to take executive chairman role
How to Trade Lululemon
This article is for subscribers only.
Laurent Potdevin, who ran Lululemon Athletica Inc. for four years and brought a passion for “mindfulness” to the job, is now leaving the yogawear brand under a cloud of misconduct.
The 50-year-old chief executive officer abruptly resigned on Monday in the wake of unprofessional behavior that the company declined to identify. Potdevin will receive a payment of $5 million from Lululemon, which has begun a search for a new leader.