Lululemon shares jumped about 10% after the athleticwear group announced that chief executive officer Calvin McDonald will step down from his role, marking the start of a leadership transition at the company.
The Vancouver-based company said McDonald has informed the board of his intention to leave the CEO position. He will remain in his role for the time being while the board conducts a search for a successor, and will support the transition to ensure continuity in leadership.
McDonald joined Lululemon in 2018 and has been credited with steering the brand through a period of strong growth. During his tenure, the company expanded its international footprint, diversified its product offering beyond yoga wear, and strengthened its direct-to-consumer and digital capabilities.
Lululemon said the search for a new CEO will consider both internal and external candidates. The company added that its long-term strategy remains unchanged and that it will continue to focus on global expansion, innovation, and strengthening customer engagement.
The announcement was well received by investors, with Lululemon shares rising sharply in early trading. The market reaction reflects confidence in the company’s performance to date and its ability to manage a smooth leadership transition.
