Founders and Interim CEOs Engage in Share Buybacks: Attention on the Shaky 'Lululemon'

Founder Dennis J. Wilson and his affiliates continue to hold approximately 8.6% of Lululemon Athletica Inc. (NASDAQ: LULU) shares and have launched a shareholder campaign via gold-card proxies to nominate three new board members and eliminate the board’s staggered-term structure.

Board director and former CEO Charles V. Berg has bolstered his direct and indirect stake by purchasing about $1 million (roughly KRW 1.4 billion) of stock on the open market through a trust, in addition to RSU compensation. President, Chief Commercial Officer, and Co-Interim CEO André Maestrini also expanded his holdings by acquiring approximately $500,000 (about KRW 690 million) of company shares around April 1.

Since issuing a conservative outlook for 2026, Lululemon’s share price has been volatile, and the company now faces regulatory headwinds after Texas authorities opened an inquiry into the use of so-called “forever chemicals” in its products. In December 2025, Lululemon announced that CEO Calvin McDonald will retire effective January 31, 2026, with board chair Marty Morfit, the CFO, and Maestrini stepping in as co-interim CEOs during the transition.

Headquartered in Vancouver, Canada, Lululemon is a premium athleisure and yoga apparel brand selling through global retail and online channels. Despite slowing growth in its core U.S. market and rising competition from Alo Yoga, Vuori, and Nike, the company continues to pursue both product-category expansion and international market penetration.