Lululemon Athletica Inc, said Thursday that its CEO Calvin McDonald is stepping down effective Jan. 31 as the athletic wear maker wrestles with a year of disappointing sales.
The company, based in Vancouver, Canada, said that McDonald and the board are working together to manage a “smooth transition,” and he will serve as a senior advisor to the company through March 31, 2026.
The board said it was conducting a comprehensive search in partnership with a leading executive search firm to select his successor. McDonald took the helm in 2018.
