Lululemon explanation of CEO departure ‘bordering on inadequate’, say experts

Shareholder advocates and analysts are calling on Lululemon Athletica for more disclosure surrounding the abrupt resignation of its chief executive who “fell short” of the Canadian athleisure company’s conduct standards.

Frank Allen, the executive director of the Canadian Foundation for Advancement of Investment Rights (FAIR Canada), said the Vancouver-apparel maker’s statements explaining the sudden departure of CEO Laurent Potdevin after four years at the helm were “thin.”

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