December 11th, 2013
09:54 AM ET

Meet Lululemon's New CEO

Founder Chip Wilson steps down from popular yoga pants company Lululemon, reports CNN's Alison Kosik.

The  new CEO will be Laurent Potdevin, former Louis Vuitton manager, Burton CEO, and TOMS president.

This move follows the controversy of Wilson last month, when he implied that Lululemon is not for larger women when asked about customer complaints about pilling pants.

It is Lululemon's attempt to regain control of its leaders' brands after several months of C-Suite confusion. And with Potdevin's promotion comes Wilson's demotion. He's stepping down from his chairman role in the spring and will be replaced by current board member and former Starbucks exec Michael Casey.

Posted by
Filed under: moneytime • News • Videos