Lululemon revealed its chief executive Calvin McDonald plans to step down from his role as well as member of the board of directors next year.
McDonald will leave on January 31 2026 and will serve as senior advisor to the company until March 31 2026.
The athleisure brand said it is conducting a “comprehensive search process” in collaboration with a leading executive search firm to find a successor.
In the meantime, chief financial officer Meghan Frank and chief commercial officer André Maestrini will serve as interim co-chief executives.
Chair of the Board Marti Morfitt will take on the expanded role of executive chair to oversee near and long-term growth during the leadership change.
McDonald joined Lululemon in 2018 and has seen the company through significant growth and innovation where it tripled its annual revenues.
He grew the company’s global reach to over 30 markets, expanded the product portfolio and entered new high-demand activities such as tennis and golf.
Lululemon expects to make $11bn in annual revenue this financial year, with the company adding it is “well-positioned” to continue its category leadership in the long-term.
On his departure, McDonald said: “Serving as chief executive 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.
“I am committed to fully supporting the transition and helping guide our leadership team in my advisory role as they execute against our strategy.”
Morfitt added: “On behalf of the Board and the entire organisation, I want to thank Calvin for his visionary leadership building lululemon into one of the strongest brands in retail.
“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.
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