Canada's Lululemon announces CEO transition, interim co-CEOs named

The company also announced that Marti Morfitt, Chair of the Board, will take on the expanded role of Executive Chair, effective immediately, to ensure the continued execution of the company’s near- and long-term growth strategy during the leadership transition. In addition, Meghan Frank, Chief Financial Officer, and André Maestrini, Chief Commercial Officer, will serve as interim co-CEOs following Mr. McDonald’s transition. Both interim co-CEOs bring extensive global retail experience and proven track records of driving growth at lululemon, and will support all aspects of the business through the conclusion of the search process.

Since joining lululemon in 2018, Mr. McDonald has guided the company through a period of significant growth and innovation. Under his leadership, lululemon has more than tripled its annual revenues, and the company expects to generate $11 billion in annual revenue this fiscal year. He also broadened lululemon’s global reach to over 30 geographies and grew the company’s China Mainland business into its second largest market. Additionally, he expanded lululemon’s product portfolio, meaningfully growing its athletic and lifestyle categories, and formally expanding into new high-demand activities such as tennis and golf. As a result of these achievements, lululemon is well-positioned to continue its global category leadership and create value for shareholders over the long-term.

“Serving as CEO of lululemon has been the highlight of my career, and I am incredibly proud of everything our team has accomplished over the last seven years,” said Mr. McDonald. “Together, we have transformed the athletic apparel industry and the opportunity ahead for lululemon is substantial. I believe the outstanding product pipeline we’ve built, and action plan we’ve put into place, will yield positive results, and deliver value to shareholders in the months and years ahead. I am committed to fully supporting the transition and helping guide our leadership team in my advisory role as they execute against our strategy.”

“On behalf of the Board and the entire organization, I want to thank Calvin for his visionary leadership building lululemon into one of the strongest brands in retail,” said Ms. Morfitt. “During his tenure, Calvin led lululemon through a period of impressive revenue growth, with differentiated products and experiences that resonated with guests around the world. We are grateful for Calvin’s numerous contributions and appreciate his continued support over the coming months to facilitate a seamless transition.”

Ms. Morfitt added, “The Board is confident in our leadership transition plan, the strength of our teams across the company, and our ability to deliver on our strategy. lululemon has a strong foundation in place, and, as we look to the future, the Board is focused on identifying a leader with a track record of driving companies through periods of growth and transformation to guide the company’s next chapter of success. While the search is underway, I look forward to working closely with Meghan, André, and the rest of the Senior Leadership Team to execute on our strategy with a sense of urgency and meaningfully drive the business forward.”

Third Quarter Fiscal 2025 Results and Conference Call

Biographies

Martha (Marti) Morfitt

Marti Morfitt joined the lululemon Board in 2008 and was appointed Chair in 2022. She has been a Principal at River Rock Partners since 2008. In addition, she held various senior leadership positions, including Chief Executive Officer of Airborne and President and Chief Executive Officer at CNS.

Meghan Frank

Meghan Frank has served as lululemon’s Chief Financial Officer since 2020. She joined the company in 2016 as Senior Vice President, Financial Planning and Analysis. Prior to lululemon, she held senior finance and merchandise planning roles at Ross Stores and J. Crew.

André Maestrini

André Maestrini was appointed lululemon’s President and Chief Commercial Officer in 2025. He joined the company in 2021 as Executive Vice President of International. Prior to lululemon, he spent 14 years at adidas in various senior roles around the globe.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

ALCHEMPro News Desk (RM)