In a significant leadership change, lululemon athletica inc. has announced that Calvin McDonald will step down as Chief Executive Officer and as a member of the Board of Directors, effective January 31, 2026. McDonald will continue to support the company as a senior advisor until March 31, 2026, helping to ensure a seamless transition. The Board of Directors is actively conducting a comprehensive search for McDonald’s successor, partnering with a prominent executive search firm.
In response to this transition, Board Chair Marti Morfitt has taken on the additional role of Executive Chair to oversee the execution of the company’s key growth strategies during this leadership shift. Following McDonald’s departure, Meghan Frank, the Chief Financial Officer, and André Maestrini, the Chief Commercial Officer, will serve as interim co-CEOs. Both leaders bring a wealth of global retail experience and have been instrumental in promoting growth within lululemon.
Calvin McDonald, who joined lululemon in 2018, has driven substantial expansion during his tenure. Under his leadership, the company’s annual revenues have more than tripled, with expectations of reaching $11 billion in this fiscal year. McDonald has also been pivotal in increasing lululemon’s global presence, successfully establishing operations in over 30 countries and making significant inroads into the populous China market. Additionally, he expanded the brand’s product offerings, tapping into new categories like tennis and golf.
Reflecting on his time at lululemon, McDonald stated, “Serving as CEO of lululemon has been the highlight of my career, and I am incredibly proud of everything our team has accomplished over the last seven years. I believe the outstanding product pipeline we’ve built will yield positive results and deliver value to shareholders in the future.”
Morfitt expressed gratitude for McDonald’s contributions, noting that his leadership has solidified lululemon as a dominant player in the retail landscape. “During his tenure, Calvin led lululemon through impressive growth, with differentiated products and experiences that resonated with guests around the globe,” she said.
The Board is currently focused on finding a leader capable of guiding the company through the next chapter of its growth, specifically someone with a strong track record of driving transformation in similar retail environments. While the search is ongoing, Morfitt will work closely with Frank, Maestrini, and the Senior Leadership Team to maintain momentum and ensure the strategic direction remains aligned with company goals.
In conjunction with these announcements, lululemon released its third-quarter financial results for fiscal 2025. A conference call is scheduled to discuss these results, where investors and analysts will have the opportunity to gain further insights into the company’s performance.
Morfitt’s extensive background includes joining lululemon’s Board in 2008 and rising to her current position as Chair in 2022. She also has experience as a Principal at River Rock Partners. Meghan Frank, who has served as CFO since 2020, joined lululemon in 2016, while André Maestrini, who was recently appointed as President and Chief Commercial Officer, has a 14-year history at adidas before his tenure at lululemon.
As lululemon moves forward, the company remains committed to innovation and growth, focusing on delivering transformational products and experiences that foster meaningful connections among its global community of yogis and athletes.
