Lululemon Is Accelerating The Search For Successors.

CEO job vacancy for nearly two months.

We are accelerating the search for successors.

Glenn Murphy, executive chairman of the board, recently said at an analyst conference that the company had met with many potential candidates.

According to the world clothing and shoe net, in April 6th, Bloomberg disclosed the list of 6 potential candidates, namely Ralph Lauren former CEO Stefan Larsson, Levis executive vice president and global retail President Carrie Ask, the outgoing UrbanOutfitters Group executives David McCreight,

Store Finish Line CEO Sam Sato, cosmetics retailer Sephora, chief executive officer Satish Mahotra.

Due to frequent changes in high-level personnel in recent years, Lululemon has been more cautious in looking for CEO. Bloomberg revealed that the company hopes to choose a successor with cultural fit, resume and image.

For this reason, the company's background examination of candidates will be more stringent.

"The company has enlarged the background survey of candidates, even if it was ambiguous suspicious behavior in the past. It is also regarded as a major risk," said Mike Magsig, partner of DHR International, executive search firm.

In February this year, Lululemon suddenly announced that Laurent Baldwin CEO (Laurent Potdevin) resigned.

The reason is that he and a former woman in the company.

It has been a long time to maintain unlawful relations.

The latter left office when Laurent Baldwin took office in 2014, and was subsequently appointed by the company as a contractor to undertake part of the company's projects.

Although CEO's post has not yet succeeded, it has not significantly affected Lululemon's share price.

Since 2018, the company's share price has risen by 16%, and has increased by 80% over the past 52 weeks.

This is the second time that Lululemon has been looking for a new CEO candidate in four years.

As early as 2014, the company had a recall problem due to the exposure problem of a yoga pants material design, and its performance had been greatly affected.

Christine Day (Christine Day) and founder Chip Wilson (Chip Wilson) resigned one after another, and Laurent Baldwin then took office.

But now, Laurent Baldwin, who was in office for four years, was forced to leave because of his improper behavior.

In fact, this former CEO's merit is beyond doubt. In four years, he has led Lululemon from a niche Yoga brand to a world-famous sports leisure brand, and its overseas performance has been growing steadily.

At the end of March, the Canadian sports brand's earnings report showed that as of January 28, 2018, the fourth quarter revenue grew by 18% to $928 million 800 thousand, and the total revenue grew 13% to 2 billion 649 million dollars a year.

The fourth quarter of the Asian market increased by 52% compared with the same period last year, and the European market also increased by 42%.

Even in North America, where retail sales continue to be weak, its growth rate is over 10%.

Continued good performance has made Lululemon a strong position in recruiting new CEO.

"This gives the board the opportunity to choose more experienced people," says Pamela Quintiliano, a Wall Street analyst.

It is worth noting that there are gender links in the four CEO outgoing crises in the past two years. For a sports brand dominated by female customers, a female CEO is a good choice.

In this regard, Pamela Quintiliano analysis said, "if candidates are female, that would be an excellent choice, but if you can find a man who is competent for CEO work, it will not be a problem."

Of the 6 potential candidates disclosed by Bloomberg, Carrie Ask, executive vice president of Levis, is the only woman.

The 48 year old executive is currently in charge of Levis group's global retail business and leading its e-commerce team.

Prior to that, Carrie Ask had been a senior executive in Nike brands, Converse and Target.

The experience of Nike's former Retail Director is undoubtedly the most important aspect of Lululemon.

Up to now, Lululemon has not yet identified the CEO candidates and their timetable for taking office. The Canadian sports brand needs more time to consider it again and again.

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