Lululemon Overhauls Leadership as Stock Sinks 54% in 2026

Lululemon Athletica (LULU) has undertaken to shake up the senior leadership team, which seems to be happening at a critical time for the athletic apparel firm. Indeed, shares have declined more than 54% so far this year, and there were declines in revenue and comparable sales in the last quarter. With this, Lululemon has decided to create two new senior positions aimed at focusing more attention on product development and operational execution.

Maggie Gauger, who served as president and CEO of Athleta, will take the position of president and chief product officer starting Oct. 26. Joseph Godsey, who previously held the position of chief growth officer at Walmart Canada, will serve as the company’s chief operating officer on the same date. Gauger will be responsible for such departments as design, merchandising, footwear, and product innovation, while Godsey will oversee all operational issues like sourcing, production, fulfillment, planning, and others.