On December 11, U.S.-based athletic apparel giant lululemon athletica inc. announced that its Chief Executive Officer, Calvin McDonald, will step down from his role effective January 31, 2026. At the same time, the company’s Board of Directors confirmed it has launched a search for the next CEO in partnership with a leading external executive search firm.
Following his departure as CEO and Board member, McDonald will remain with the company as a senior advisor through March 31, 2026, supporting a smooth leadership transition.
Leadership Transition: Executive Chair and Interim Co-CEOs
As part of the transition, Marti Morfitt, Chair of the Board, has been appointed Executive Chair, effective immediately. In this expanded role, she will oversee the execution of lululemon’s short-, mid-, and long-term growth strategies during the leadership transition, ensuring operational stability and continuity.
After McDonald’s departure, Meghan Frank, Chief Financial Officer, and André Maestrini, Chief Commercial Officer, will serve as interim co-CEOs. Both executives bring extensive global retail experience and have played central roles in driving lululemon’s growth. They will jointly oversee all aspects of the business until a permanent CEO is appointed.
Revenue More Than Tripled Under McDonald; China Emerges as Second-Largest Market
McDonald joined lululemon in 2018, and during his tenure the company’s annual revenue more than tripled. In 2025, lululemon expects to generate approximately $11 billion in annual revenue.
Growth under McDonald extended well beyond North America, with the company expanding its presence to more than 30 countries and regions worldwide. Notably, Mainland China has grown into lululemon’s second-largest market, underscoring the brand’s accelerating global momentum.
From a product strategy perspective, lululemon expanded beyond its core yoga and training categories, making a full-scale entry into high-demand segments such as tennis and golf. This move helped build a product portfolio that bridges athletic performance and lifestyle, further strengthening the brand’s position as a category leader.
Executive Commentary
Commenting on his decision to step down, McDonald said: “Serving as CEO of lululemon has been the highlight of my career, and I am incredibly proud of everything our team has accomplished over the last seven years. Together, we have transformed the athletic apparel industry and the opportunity ahead for lululemon is substantial. I believe the outstanding product pipeline we’ve built, and action plan we’ve put into place, will yield positive results, and deliver value to shareholders in the months and years ahead.”
Morfitt also praised McDonald’s leadership, stating: “During his tenure, Calvin led lululemon through a period of impressive revenue growth, with differentiated products and experiences that resonated with guests around the world. We are grateful for Calvin’s numerous contributions and appreciate his continued support over the coming months to facilitate a seamless transition.”
The Board emphasized that it remains focused on identifying a next-generation CEO capable of leading the company through continued growth and transformation, while maintaining momentum throughout the transition period.
The Next CEO and the Continuity of Growth Strategy
lululemon now finds itself at a pivotal moment, navigating both global expansion and category diversification. The CEO transition can be viewed as a strategic move toward the company’s next phase of growth following a period of rapid scale.
Under the interim co-CEO structure, attention will be focused on how lululemon accelerates its international expansion—particularly with China as a key growth engine—while developing tennis and golf into core growth pillars. Equally important will be how the company continues to deepen brand experiences and sustain product innovation, reinforcing its leadership position across categories.
The next CEO will be expected to inherit these strategies and guide lululemon into its next chapter with a strong global perspective and the ability to execute transformation at scale.
Copyright © 2025 Oui Speak Fashion. All rights reserved.