Overview
- Lululemon named Heidi O’Neill as its next chief executive on Wednesday, with her tenure set to begin Sept. 8, 2026 after a four‑month search backed unanimously by the board.
- Following Thursday’s negative market reaction, shares fell about 11% to 13% to near $144 as analysts questioned her lack of public‑company CEO experience and her ties to Nike’s recent stumbles.
- Interim co‑CEOs Meghan Frank and André Maestrini will continue to run the company until September, then return to their roles as chief financial officer and chief commercial officer.
- The appointment lands during a heated proxy fight led by founder Chip Wilson and Elliott Investment Management, who have pushed for board changes and were reported to favor a different CEO candidate.
- O’Neill, a 25‑plus‑year Nike leader, says she will speed product development, rebuild cultural relevance, and drive international growth as Lululemon wrestles with weaker U.S. demand, tariff costs, product misfires, and rising competition from Alo and Vuori.