April 24, 2024

Business Briefing | Company News: Lululemon Athletica’s Founder Takes a Step Back

Lululemon Athletica, the yoga wear retailer, said on Friday that Dennis J. Wilson, its founder and former chief executive, would leave his remaining executive role as chief innovation and branding officer at the end of January. The company, which is based in Vancouver, British Columbia, offered no explanation about the move. He will remain as chairman. Christine Day, a former Starbucks executive, has been the company’s chief executive since 2008. Mr. Wilson, who is known as Chip, has said that he was greatly influenced by Ayn Rand and has used her books, which promote the idea of people living for their self-interest, to guide his business. Last November, Lululemon provoked an outcry from some customers after it used the opening line from Rand’s “Atlas Shrugged” on its shopping bags.

Article source: http://feeds.nytimes.com/click.phdo?i=083c3439814bbab2d18b0cc62ad58f99

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