Blog Exposure - Lululemon Names Calvin McDonald as New CEO
LONDON, UK / ACCESSWIRE / July 27, 2018 / If you want access to our free research report on Lululemon Athletica Inc. (NASDAQ: LULU) ("Lululemon"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LULU as the Company's latest news hit the wire. On July 24, 2018, the Company announced that it has appointed Calvin McDonald, 46, as the new Chief Executive Officer (CEO), effective August 20, 2018. McDonald will become a member of Lululemon's Board of Directors. He has served as President and CEO of makeup chain Sephora Americas for the past five years. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lululemon Athletica most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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McDonald is the Ideal Match for Lululemon Brand and Culture Given his Strong Consumer Mindset and Performance-Driven Approach
Commenting on the appointment, Glenn Murphy, Chairman of the Board of Directors of Lululemon, stated that Calvin McDonald has an impressive track record leading organizations through periods of significant growth and innovation. He is the ideal match for the Lululemon brand and culture given his strong consumer mindset, performance-driven approach, and success in developing people. Murphy added that each member of the Company's Board met him during the thorough process. Lululemon is confident that McDonald will maintain the momentum in the business and take Lululemon to new heights.
News report suggest that post announcement of the news, Lululemon's shares surged in after-hours trading.
Lululemon's Former CEO Laurent Potdevin Resigned in February 2018
On February 05, 2018, Laurent Potdevin resigned as CEO and as a member of Lululemon's Board. Potdevin abruptly resigned for falling short of the Company's standards of conduct to respect employees and show integrity. CNBC reported in February 2018 that a multi-year relationship with a female designer at the Company was one of the issues that contributed to the resignation of Potdevin. The Board of Directors immediately begun a search process for a proven and highly-experienced global CEO.
Calvin McDonald's Career History
Under McDonald's leadership, Sephora delivered double-digit growth year after year; expanded its product offerings; created new digital platforms and store experiences; and expanded in global markets, including Brazil and Mexico, as it became the recognized market leader in North America and South America. Prior to joining Sephora in 2013, McDonald spent two years as President and CEO of Sears Canada. He also honed a broad range of retail and leadership skills during a 17-year period at Loblaw Cos. Ltd, which is the largest retailer in Canada. Among his management roles at Loblaws, McDonald led a business unit with approximately 40,000 employees responsible for $15 billion in annual revenues and expanded the President's Choice private label brand.
McDonald was born in Canada and earned an MBA from the University of Toronto, and a Bachelor of Science degree from the University of Western Ontario.
About Lululemon Athletica Inc.
Founded in Vancouver, Canada, in 1998, Lululemon is a healthy lifestyle-inspired athletic apparel organization for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. The Company works with yogis and athletes in local communities for continuous research and product feedback.
Stock Performance Snapshot
July 26, 2018 - At Thursday's closing bell, Lululemon Athletica's stock marginally fell 0.43%, ending the trading session at $124.49.
Volume traded for the day: 1.00 million shares.
Stock performance in the last three-month - up 26.49%; previous six-month period - up 58.34%; past twelve-month period - up 102.52%; and year-to-date - up 58.40%
After yesterday's close, Lululemon Athletica's market cap was at $17.21 billion.
Price to Earnings (P/E) ratio was at 46.73.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Clothing industry.
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