Lululemon says CEO resigns after he fell brief of control standards
Apparel association Lululemon announced that arch executive Laurent Potdevin has quiescent from his post after being during a helm of a association for over 4 years.
The tradesman done a proclamation after a tighten of batch marketplace trade on Monday and pronounced a pierce was effective immediately.
“Lululemon expects all employees to reflect a tip levels of firmness and honour for one another, and Mr. Potdevin fell brief of these standards of conduct,” a association pronounced in a recover but elaborating.
Potdevin also stepped down as a member of a Vancouver-based company’s house of directors.
“While this was a formidable and deliberate decision, a house interjection Laurent for his work in strengthening a association and positioning it for a future,” said Glenn Murphy, a company’s executive authority of a board.
“Culture is during a core of Lululemon, and it is a shortcoming of leaders to set a right tinge in a organization. Protecting a organization’s enlightenment is one of a board’s many critical duties,” Murphy said.
Potdevin was appointed association CEO in Dec. 2013.Â
The association pronounced it has begun sport for a new tip executive, adding that Murphy and 3 other comparison executives will take on combined duties in a interim.
Lululemon also validated the financial guidance it gave on January 8, that is pronounced “reflects a ongoing movement of a business.”Â
The business pronounced it stays on lane to achieve $4 billion in income in 2020.
Shares of Lululemon close down 1.5 per cent on Monday, finishing during $77.41 US on Nasdaq. In after-hours trading, a batch slipped 3 per cent.
Article source: http://www.cbc.ca/news/business/lululemon-laurent-potdevin-resignation-1.4520956?cmp=rss