lululemon Enters into Cooperation Agreement with Chip Wilson; Laura Gentile and Marc Maurer to Join Company’s Board of Directors

Key Points:

• lululemon athletica has entered into a cooperation agreement with Dennis J. “Chip” Wilson, who owns about 8.7% of the company's stock, including a standstill and non-disparagement provisions for approximately 18 months.
• Laura Gentile, former ESPN Chief Marketing Officer, and Marc Maurer, former Co-CEO of On, will join lululemon’s Board of Directors after the 2026 Annual Meeting, with an additional director specializing in apparel product and brand expertise to be appointed by October 1, 2026.
• The board refreshment aims to support incoming CEO Heidi O’Neill and the leadership team in advancing strategies to strengthen brand health, reaccelerate growth, and enhance shareholder value.
• Both Gentile and Maurer bring extensive experience in marketing, brand positioning, and consumer-focused growth, which lululemon expects will contribute to innovation and value creation.
• The agreement includes a donation supporting athletics, art, and landscaping at Kitsilano Beach in Vancouver, lululemon’s founding location, instead of expense reimbursement to Chip Wilson.