Lululemon founder says board's response to his suggestions 'weak and insufficient'

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Lululemon founder Chip Wilson is again pressuring the company to change its board and processes. He expressed dissatisfaction with the board’s “weak and insufficient” response to his suggestions, which included director nominations, stating that they merely indicated openness to unspecified changes over time. Wilson, a significant shareholder despite leaving the board in 2015, has been pushing for changes since CEO Calvin McDonald’s announced departure last year, citing a significant drop in stock value during McDonald’s tenure.

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