Lululemon CEO Laurent Potdevin leaves abruptly

  • After about four years in the position
  • Praise and thanks for Potdevin
  • Responsibilities redistributed
  • Search for a successor

(exechange) — Vancouver, British Columbia, Canada, February 5, 2018 — Laurent Potdevin, chief executive of Lululemon, leaves. It is an abrupt change. As announced by Lululemon Athletica Inc. in a news release and in a regulatory filing published on Monday, February 5, 2018, Laurent Potdevin has left his post as Chief Executive Officer at the athletic apparel company after about four years in the position, effective February 2, 2018.

Lululemon will undertake a search for a successor.

The position of Chief Executive Officer is currently not filled. For the time being, Laurent Potdevin’s responsibilities are redistributed.

“Mr. Potdevin fell short of these standards of conduct”

Potdevin’s sudden departure from the CEO post is explained as follows. Lululemon said: “Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Mr. Potdevin fell short of these standards of conduct.”

Precise information about Potdevin’s future plans was not immediately available.

“Resigned”

Lululemon said: “Laurent Potdevin has resigned as CEO and as a member of the company’s Board of Directors, effective immediately.”

Lululemon further said: “On February 2, 2018, Laurent Potdevin, Chief Executive Officer of Lululemon Athletica Inc. …, resigned from his position as Chief Executive Officer and as a member of Lululemon’s board of directors, effective immediately.”

In the position of CEO since 2014

Laurent Potdevin has been the Chief Executive Officer of Lululemon Athletica Inc. since January 1, 2014.

Laurent Potdevin was appointed as the Company’s Chief Executive Officer and a member of the Company’s board of directors in December 2013, and has served in those roles since January 2014.

Potdevin previously worked at Toms Shoes, a socially-conscious shoe company, where he served as President from May 2011 to December 2013.

From 1995 to 2010, he worked at Burton Snowboards, the world’s largest and premier snowboarding company, serving in various capacities including as President and CEO from 2005 to 2010.

Prior to joining Burton Snowboards, Potdevin worked at Louis Vuitton and LVMH.

Potdevin received degrees from Ecole Superieure des Sciences Economiques et Commerciales, in France, and the Engineering School, Ecole Polytechnique Federale de Lausanne, in Switzerland.

Read the full story in the exechange report 7.2018 ($).