In breaking yoga clothing news, Chip Wilson, who recently earned some reverse good juju for his insensitive comments about women’s bodies and subsequent apology that didn’t feel like an apology, has stepped down as chairman of his own company.
“Lululemon (LULU) is finally balancing its corporate chakras. Outspoken and occasionally toxic founder Dennis “Chip” Wilson is relinquishing the chairman’s seat and the company has found a replacement for Chief Executive Officer Christine Day, who was in charge during the transparent-pants fiasco.
Laurent Potdevin, formerly president of Toms Shoes and manager of LVMH Moet Hennessy Louis Vuitton (MC:FP), steps into the corner office in January. (We assume the yoga-gear maker didn’t find Potdevin via its very public call for online applications, but you never know.) Michael Casey, lead director of the board and formerly chief financial officer of Starbucks (SBUX), will become chairman.”
Wilson founded the company in 1998, the article says. What a shame to have to step down as chairperson of your own company. And I also wonder if Wilson’s ill-advised commentary has dented the company’s sales at all.