Lululemon enters cooperation agreement with Chip Wilson

Lululemon Athletica inc. has entered into a cooperation agreement with founder Dennis J. “Chip” Wilson, who holds approximately 8.7 percent of the outstanding common stock of the Canada-based company.

As part of the agreement, Laura Gentile, former chief marketing officer of ESPN, and Marc Maurer, former co-chief executive officer of On, will join the board of directors following the 2026 annual meeting of shareholders. The board is also continuing refreshment efforts by committing to appoint an additional director with product and brand expertise in apparel by October 1, 2026.

The appointments come as the apparel company prepares to welcome its incoming chief executive officer, Heidi O'Neill.

Marti Morfitt, executive chair of Lululemon, stated that the agreement allows the company to focus on strengthening performance, reaccelerating growth, and delivering enhanced value for shareholders.

Strategic background of incoming directors

Gentile served as executive vice president and chief marketing officer of ESPN from January 2018 to October 2023, where she founded espnW, a platform dedicated to women in sports. Following her tenure at ESPN, she co-founded Storied Sports LLC, a content studio partnering with athletes and brands in women's sports.

Maurer served as co-chief executive officer of Switzerland-based brand On from January 2021 to May 2025, after joining the premium footwear company in 2013 as chief operating officer. During his tenure, On expanded internationally, diversified into apparel, and completed a successful public listing.

Wilson expressed confidence in the new board additions, noting that the strategic changes reflect progress toward restoring the product-first vision of Lululemon. Under the terms of the agreement, Wilson has agreed to customary standstill, non-disparagement, and voting provisions for approximately 18 months. Instead of expense reimbursement, Lululemon and Wilson have agreed to make a donation supporting athletics, art, and landscaping at Kitsilano Beach in Vancouver, where the company was founded.