business / news / / Reuters
Wilson launched a proxy battle earlier this year to install three directors on Lululemon's board.
Chip Wilson revealed the board requested millions in escrow for non-disparagement compliance during proxy talks.
KEY POINTS
- 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
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