Lululemon Says CEO Laurent Potdevin Has Resigned, Effective Immediately

02/05/18 04:24 PM EST
By Sara Germano and Joann S. Lublin 

Yoga-pants maker Lululemon Athletica Inc. said its chief executive, Laurent Potdevin, has resigned from the company and that he had fallen short of the company's standards of conduct.

The company said Mr. Potdevin, who had been its top executive since January 2014, had resigned as CEO and a board member, effective immediately.

It wasn't immediately clear how Mr. Potdevin had fallen short of the company's standards. There were "a range of instances" where his actions didn't align with company policy on leadership and conduct, according to a person familiar with the matter.

"Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Mr. Potdevin fell short of these standards of conduct," the company said in a statement.

Mr. Potdevin couldn't immediately be reached for comment. Before joining Lululemon, he served as president of Toms Shoes and as chief executive of Burton Snowboards, where he spent 15 years.

Write to Sara Germano at sara.germano@wsj.com and Joann S. Lublin at joann.lublin@wsj.com

 

(END) Dow Jones Newswires

February 05, 2018 16:24 ET (21:24 GMT)

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