Lululemon Founder Escalates Demand to Oust Four Directors

Chip Wilson, founder of Lululemon Athletica Inc., ratcheted up his campaign to bring change to the struggling yogawear chain, saying in a shareholder letter that more directors should be replaced and calling the board’s responses to his overtures “weak and insufficient.”

The escalation came after Wilson sent a framework for a settlement to the board in December that made several requests, including that four members of the board step down or retire over the next two years, according to a person familiar with the situation.