Lululemon names Sephora executive Calvin McDonald as new CEO
NEW YORK (AP) — Lululemon named Calvin McDonald as CEO Tuesday, more than five months after the maker of yoga tights said its previous chief executive resigned for falling short of the company’s standards of conduct.
McDonald, 46, served as president and CEO of makeup retailer Sephora for the past five years. Before that, he worked at Sears Canada. He’ll join Lululemon on August 20.
Former CEO Laurent Potdevin left Lululemon in February, and the company provided no details of what conduct led to his resignation. The company, based in Vancouver, British Columbia, has posted strong financial results in recent quarters after it redesigned its website and made tweaks to its designs, helping to attract more shoppers.
Shares of Lululemon Athletica Inc., which have nearly doubled in the last year, rose 1 percent to $124.40 in after-hours trading Tuesday.