The founder of Lululemon Athletica Inc. is hoping new blood at the top will help the company bounce back from a collection of embarrassing issues that have hurt the image of the company. The Vancouver based luxury yoga clothing maker announced that Chip Wilson will be stepping down as chairman after raising controversy with his comments regarding the body types of potential customers that purchase their yoga pants. The company also proceeded to name a new chief executive officer. The current CEO, Christine Day announced her intentions to leave in June and will be succeeded by Laurent Potdevin who is a 20 year industry veteran and whose last job was as CEO of Toms Shoes.
The company named its lead director Michael Casey as the new chairman. Casey has been on the board of Lululemon since 2007. Wilson for his part will resign his position of chairman prior to the company’s annual meeting in June.