Founder of lulemon athletica, Chip Wilson, has announced that he is leaving the board of directors since the company is now “back on track” with a solid management team, according to Reuters.
“I believe that now is the right time to step away from the board,” Wilson said in a statement on Monday. “I now believe the company has returned to the core values that made it great.”
After founding lululemon athletica in 1998, Wilson remained entrenched with the retailer’s day-to-day activities until early 2012. He stepped down as chairman in late 2013 after the brand was hit by a significant product recall scandal. Then-CEO Christine Day also eventually left the company, in June 2013, after taking the helm in 2008.
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