Lululemon Athletica Inc.‘s share price slid by almost 12 per cent a day after the retailer named a new CEO.
The Vancouver-based company’s shares were trading on the Nasdaq for about US$144 around mid-afternoon.
BNP Paribas Equity Research senior analyst Laurent Vasilescu says the share price drop is a sign that the market is disappointed Lululemon chose former Nike executive Heidi O’Neill as its next CEO.
He says O’Neill is more of a growth CEO and many feel Lululemon is in need of a turnaround executive instead.
However, Neil Saunders, managing director at consulting and analytics firm GlobalData, thought she’s a good choice because she has experience in activewear and has sat on the boards of many customer service-focused companies.
O’Neill will start Sept. 8. She is likely to face immediate pressure from shareholders, including estranged founder Chip Wilson, who have been lobbying for their own CEO and board member picks, claiming the company needs to better address its lower share price and many competitors.
This report by The Canadian Press was first published April 23, 2026.
