Lululemon CEO Leaves After Integrity ‘Falls Short’ of Standard

• February 05 2018
• Nick Turner

Lululemon Athletica Inc. Chief Executive Officer Laurent Potdevin abruptly resigned from the athletic-apparel seller, which said his behavior didn’t live up to its standards.

Lululemon Athletica Inc. Chief Executive Officer Laurent Potdevin abruptly resigned from the athletic-apparel seller, which said his behavior didn’t live up to its standards.

The 50-year-old also will resign from the board, Lululemon said, without being specific about his alleged misconduct. The board, led by Executive Chairman Glenn Murphy, has already begun a search for a new leader.

“Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another,” the Vancouver-based company said in a statement Monday. “Mr. Potdevin fell short of these standards of conduct.”

The company shares plunged in late trading, falling as much as 10 percent to $69.66.