Lululemon Athletica Inc. has named Heidi O’Neill, a former Nike executive, as its new CEO to lead the company starting September 8. The Vancouver-based athleisure retailer made the announcement on Wednesday, emphasizing O’Neill’s track record of delivering innovative ideas at scale and driving growth.
In a statement, Marti Morfitt, chair of Lululemon’s executive board, described O’Neill as an inspiring and consumer-focused brand strategist with a unique ability to envision and execute brand transformations. O’Neill’s appointment comes at a crucial time for Lululemon, which has been facing intense competition in the athleisure market.
Last year, shareholders, including Lululemon’s founder, Chip Wilson, pushed for changes in the company’s leadership to address market challenges and revitalize its product offerings. Wilson had recommended new board members, but his spokesperson did not comment on O’Neill’s appointment.
Following the resignation of former CEO Calvin McDonald in December, Lululemon’s CFO and COO took on the role of interim co-CEOs until O’Neill assumes her position. The company praised O’Neill for her contributions to Nike’s growth and her experience in marketing and board memberships.
O’Neill expressed her excitement about joining Lululemon, emphasizing the brand’s strong foundation and global growth potential. Analysts view O’Neill’s appointment as a safe choice with the potential to drive cultural change and product innovation at Lululemon, positioning the company for future success.