Chip Wilson Urges lululemon Shareholders to vote for Independent Board Nominees

Chip Wilson, founder of lululemon athletica and one of the company’s largest shareholders, released a shareholder letter on April 29, 2026, urging investors to vote for his three independent board nominees at the company’s 2026 Annual Meeting. The letter accuses the board of failing to understand and protect the brand’s premium position, leading to $17 billion in destroyed shareholder value over five years.

Value Destruction Metrics

Wilson cited a 65.9% loss in shareholder value over less than two years, making lululemon one of the worst performing stocks among peers, lagging the peer median on one and three year total shareholder returns by 19.5% and 63.6% respectively. The company has reported flat or declining same store sales in the Americas for eight consecutive quarters.

Board Nominees

Wilson nominated three independent candidates: Marc Maurer, former Co-CEO of On Holding AG, who helped quadruple revenue during his tenure; Laura Gentile, former Chief Marketing…