Well, the man behind them — and Lululemon, itself — is stepping down from his post as a company executive, although Chip Wilson’s staying on its board.
Wilson didn’t give an explanation for his departure, but did say: “I feel comfortable leaving the company with [my replacement] Christine Day at the helm of a world class management team whom I fully believe will continue to elevate our world.”
Wilson has parlayed his company into a spot on Forbes billionaires’ list. He’s worth a cool $1.9 billion.
Rand would be proud of that, no doubt!
OK, speculation time:
It would seem after the negative publicity from his Ayn Rand shopping bag PR stunt, that this might be a way to move the company forward. (Forbes said its stock is up a bit after today’s news.) That’s a pretty straight-forward way to handle such things. Until Wilson says more, I suspect it will be the default explanation.
Also in play might be the hit-and-miss take on Lululemon’s stock recently. Lots of watchers still are “bullish” on the company, but others are starting to question how long it can continue to build and expand. Perhaps now seemed a good time for a bit of a “clean break” at the top.
Or maybe he just wants to executive produce the next Rand movie.
Posted by Steve