# Wilson launched a proxy battle earlier this year to install three directors on Lululemon's board.

*business · news · 2026-04-29 · Reuters*

## Key points

- Chip Wilson revealed the board requested millions in escrow for non-disparagement compliance during proxy talks.
- Wilson claims Lululemon's board lacks expertise in brand and product needed for a successful turnaround.
- Lululemon shares have dropped 47% in 12 months, with a 15% fall after O'Neill's CEO appointment.
- Elliott Investment Management, another major stakeholder, suggested Jane Nielsen for CEO but remains publicly silent.

**Companies:** Lululemon, Elliott Investment Management
**Countries:** United States, India

[Read the full story on Reuters](https://www.reuters.com/sustainability/boards-policy-regulation/lululemon-athletica-founder-chip-wilson-raises-doubts-new-ceo-pick-amid-proxy-2026-04-29/)

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