Lululemon Founder Chip Wilson Warns CEO Candidates About the Company’s Board

refreshment needed to drive meaningful change.

The Case for Board Refreshment Wilson has nominated three independent director candidates — Marc Maurer, Laura Gentile, and Eric Hirshberg, arguing that they bring brand, product, and marketing skills he believes are “sorely missing from the Board today.” He also raised concerns about board independence, pointing out that at least four directors are tied to one private equity firm, Advent International, L.P., which does not have a disclosed ownership stake in Lululemon, yet holds chairmanships of critical board committees.

He further noted that the current board has an average tenure of over 8 years, with four of the nine directors serving more than 10 years, a dynamic he believes has stifled fresh thinking on product and strategy.

Six Questions Every CEO Candidate Should Ask Wilson outlined 6 pointed questions he believes any serious CEO candidate must press the board on before accepting the role: How does the board define the brand muse and its role in driving value? Will the new CEO have the freedom to invest in design, innovation, and creativity?…