# Lululemon Athletica shares tumbled about 12% in early trading on Thursday.

*business · news · 2026-04-23 · The Economic Times*

## Key points

- Lululemon's shares fell nearly 12% after naming ex-Nike executive Heidi O'Neill as CEO.
- Activist investor Elliott and founder Chip Wilson both pushed for veteran Jane Nielsen, not O'Neill.
- Analysts see O'Neill's Nike tenure as overlapping with issues now troubling Lululemon.
- Chip Wilson continues his proxy fight, seeking to overhaul Lululemon's board amid CEO changes.
- O'Neill will not assume the CEO role until September, prolonging strategic uncertainty.

**Companies:** Nike, Lululemon Athletica
**Countries:** United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/us-stocks/us-stocks-lululemon-sinks-after-new-ceo-hire-from-nike-fails-to-impress-investors/articleshow/130471892.cms)

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