Lululemon's founder has initiated a proxy fight, nominating three independent directors to the board in a bid to address what he sees as leadership shortcomings. Chip Wilson, holding an 8% stake, announced the move on 29 December 2025, just as the athleisure giant faces stagnant sales and a CEO transition.
The nominations target the 2026 annual meeting, with Wilson also pushing to declassify the board for annual elections. This development follows a year where shares fell more than 40%, erasing significant value.
