Lululemon Finally Fills the Board Seat It Was Already Late On
Chip Wilson's settlement gave Lululemon until October 1 to add a director with real product chops. Three weeks late, the brand picked a familiar face.
On Monday, October 22, Lululemon named Tara Poseley, its own product chief from 2013 to 2015, to its board of directors, three weeks after blowing past the October 1 deadline it had agreed to. The seat traces back to a settlement founder Chip Wilson struck with the brand earlier this year after a very public governance fight, one that required Lululemon to add a director with genuine apparel and brand experience. Poseley, most recently CEO of Paula's Choice Skincare and a veteran of Gap Inc. and Kmart, checks that box.
The appointment lands alongside a broader C-suite reshuffle from new CEO Heidi O'Neill, who recently handed Athleta CEO Maggie Gauger control of merchandising, design, and product innovation. Wilson said Poseley "understands what makes Lululemon special," and O'Neill called her insight "invaluable" as the brand tries to put product and design back at the center of the business, rather than treat them as an afterthought to growth.
A board seat is a tidy bow on a messy settlement, but it does not fill every gap. Lululemon's creative director chair has sat empty through this entire reshuffle, which means the brand has solved its governance problem before it has solved its "who's actually in charge of what it looks like" problem.
Source: Retail Dive
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
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