Former Sears Canada trainer Calvin McDonald named new CEO during Lululemon
​Lululemon Athletica Inc. has selected former Sears Canada CEO Calvin McDonald as a new arch executive officer.
The Vancouver-based wardrobe association says McDonald has served as boss and CEO of Americas for cosmetics boutique Sephora for a past 5 years.
McDonald was selected after an executive hunt commencement in February, when afterwards CEO Laurent Potdevin unexpected stepped down after a association pronounced he “fell short” of a standards of conduct.
The Canadian-born McDonald warranted his MBA during a University of Toronto and before to fasten Sephora in 2013, he spent dual years as boss and CEO of Sears Canada and 17 years in several roles with Loblaw Companies Ltd.
McDonald will be paid an initial bottom income of $1.25 million US and will be authorised to receive, among other things, an annual aim opening reward of 150 per cent of a bottom income and equity rewards equal to $6 million US, according to regulatory documents.
McDonald is set to assume a CEO purpose on Aug. 20, and will turn a member of Lululemon’s house of directors.
Article source: https://www.cbc.ca/news/business/calvin-mcdonald-lululemon-1.4760029?cmp=rss