Lululemon (LULU) Strikes Cooperation Deal With Founder Chip Wilson, Adds Two Directors

Lululemon Athletica Inc. (LULU) announced on May 27, 2026, a cooperation agreement with founder and former chairman Chip Wilson, adding two independent directors to its board and easing tensions with the activist investor. The company named Laura Gentile, a former ESPN executive, and Marc Maurer, co-CEO of On Holding, to the board effective immediately. The agreement includes standstill and voting commitments, though no detailed financial terms were disclosed. Wilson’s investment firm had previously criticized the yoga-wear retailer’s strategy. Lululemon shares rose approximately 2% in premarket trading following the announcement.