The athleisure company agreed to appoint two nominees backed by founder Chip Wilson, ending a long-running disagreement over board leadership.
Lululemon reached an agreement with founder Chip Wilson to resolve a prolonged dispute over the company’s board leadership. Under the settlement, the company will add two of Wilson’s nominees to its board, while Wilson agreed to terms not fully detailed in the provided source. The deal closes a governance conflict between the apparel maker and its founder and signals a negotiated reset in board relations.