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Justin Estes

Super Sweaty Leggings: The Battle Between Lululemon’s Founder and Its Board of Directors Just Got Hotter

Chip Wilson Lululemon LULU Board of Directors JUST United States Disney Heidi ONeill

The proxy war at Lululemon Athletica (LULU) just got a lot more aggressive.

Days after the company announced a new CEO, which the market reacted to poorly, resulting in a 12% drop in shares, founder Chip Wilson issued a scathing letter to shareholders. He accused the board of “brand harvesting” and claimed they had destroyed $17 billion in shareholder value. 

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