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Lululemon Founder Chip Wilson Warns CEO Candidates: Fix The Board First
Lululemon Athletica Inc. founder Chip Wilson has sent an open letter to prospective CEO candidates, urging them to scrutinize the company’s board before accepting the role. Wilson, a significant shareholder, believes the board’s structure needs to be addressed first due to previous CEO departures without successors. He has nominated three independent director candidates to refresh the board, highlighting concerns about conflicts of interest and long tenure among current directors.