Lululemon Athletica Inc. and its billionaire founder Chip Wilson announced a new board member, part of the two parties’ truce as the yoga-pants maker fights to recapture sales growth. The company is appointing Tara Poseley, who served as chief executive of Paula’s Choice Skincare from 2016 to 2023, as a director, according to a statement. She also spent 15 years at Gap Inc. Lululemon’s board now has 13 directors, including 12 who are independent. The company confirmed the appointment is a part of the cooperation agreement it signed with Wilson last May. “Her appointment is another positive step toward strengthening the company’s product-first vision and creating long-term value for shareholders,” Wilson said in the statement. The appointment had been delayed past an earlier Oct. 1 deadline. Heidi O’Neill, a former Nike executive, recently took over as Lululemon’s CEO as the retailer navigates a slowdown amid intense competition. The company’s shares have lost about half of their value this year. Before O’Neill joined in September, the company had gone months without a permanent CEO and stumbled through a series of self-inflicted wounds, including complaints that some of its leggings were too sheer. Lululemon reaches agreement with founder Chip Wilson, ending proxy warLululemon forecasts weaker 2026 sales, says ‘more work to be done’ Bloomberg.com
Lululemon, Chip Wilson appoint new director as part of truce between two sides
