Lululemon CEO Laurent Potdevin Resigns Amid Allegations of Unacceptable Conduct; Shares Overvalued
Narrow moat Lululemon’s shares continued to decline over 3% after market close on Feb. 5 as news of Laurent Potdevin’s resignation broke amid concerns over ethical missteps. We expect little operational impact as three of Lululemon’s senior leaders are being elevated and are taking on additional responsibilities. Celeste Burgoyne (executive vice president, americas) will oversee all channel and brand-facing aspects of the global business. Stuart Haselden (COO) will be responsible for all operati...
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