It was a day of leadership changes. It started with Lululemon (LULU) announcing the departure of its founder, Dennis "Chip" Wilson after he made some unsavory remarks about his customers body types. Lululemon also announced Laurent Potdevin, formerly of Tom's and Burton would become its new CEO replacing Christine Day. After initially trading higher, Lululemon reversed and finished down 2% for the day.
Then came news that General Motors (GM) was appointing Mary Barra as its first female CEO a day after it was revealed the U.S. Treasury was ending its bailout of the auto giant. Barra will replace current chairman and CEO, Dan Akerson, who is leaving the company to take care of his ailing wife, who is battling advanced stage cancer. GM shares finished the day down 1%.
Finally Outerwall (OUTR) announced the departure of the president for its Redbox video-rental business, Anne Saunders. A permanent replacement has not been announced yet.Read More »from Leadership changes galore; Smith & Wesson reports