Business
Chip Bergh Joins lululemon Board of Directors
Independent Director Brings Decades of Experience Driving Growth and Value Creation for Iconic Consumer Brands Appointment Reflects Commitment to Ongoing
About this update from Lululemon Athletica Inc.
[{"type":"text","content":"\nIndependent Director Brings Decades of Experience Driving Growth and Value Creation for Iconic Consumer Brands\n\n\nAppointment Reflects Commitment to Ongoing Board Refreshment\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nlululemon athletica inc. (NASDAQ:LULU) today announced the appointment of Chip Bergh, former President and Chief Executive Officer of Levi Strauss & Co., to its Board of Directors, effective immediately. With this addition, lululemon has added five new independent directors to the Board in the last five years, reflecting the Board's commitment to ongoing refreshment.\n\n\n\"Chip Bergh is an industry leader with a proven record of guiding successful transformations, overseeing the growth of some of the world's most iconic brands, and driving value creation at global, category-defining companies,\" said Marti Morfitt, Executive Chair of the Board. \"We are confident the Board will benefit from his extensive brand and retail expertise as we continue to build on lululemon's strong foundation and deliver innovative products and experiences for guests.\"\n\n\n\"lululemon has built one of the most distinctive brands in the athletic and lifestyle sector, grounded in innovation, design, technical expertise, and deep connections with its guests on a local level around the world,\" said Chip Bergh. \"I am honored to join the Board at a pivotal time and excited to work with my fellow directors to advance the company's strategic vision.\"\n\n\nMr. Bergh will stand for election at lululemon's 2026 Annual Meeting of Shareholders in lieu of David Mussafer, who has notified the Company that he does not intend to stand for re-election at the conclusion of his current three-year term.\n\n\nMs. Morfitt added, \"On behalf of the Board, I want to thank David for his many contributions to lululemon. Since first joining the Board in 2005, David has served in numerous roles, including Co-Chairman from 2014 to 2017. His perspectives have helped us grow sales, extend the brand's global reach, and position the company and the Board for the future, and we are grateful for his dedicated service.\"\n\n\nMs. Morfitt continued, \"Chip Bergh's appointment is the result of a process that began with our last Board skills assessment, and reflects our commitment to thoughtful, ongoing refreshment. We remain focused on progressing the sea...