Lululemon Founder Resigns as Board Chairman

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Lululemon Athletica Inc., a yoga-inspired athletic apparel merchant, announced that founder Chip Wilson is resigning from his position as chairman of the Board of Directors, according to a press release.  He plans to step down prior to the company’s annual meeting in June 2014.

Resigning as chairman of the Board of Directors came after Wilson, in a Nov. 5 interview with Bloomberg’s Trish Regan, made some disparaging remarks about women.

He said in the interview, “It’s really about the rubbing through the thighs, how much pressure is there over a period of time and how much they use it.”

In an article on Today, the announcement  of his resignation was coupled with an apology video by Wilson, where he stated he was sad of the repercussions of his actions.  According to Today, his remarks in the Bloomberg interview created a “media firestorm.”

“I take responsibility for all that has occurred and the impact that it has had on you, I am sorry to have put you all through this,” he said in the video.

The Board of Directors has selected Michael Casey, lead director of the Board of Directors, as the next chairman of the board, according to the press release.

 

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