Lululemon Athletica Appoints McDonald As CEO

(RTTNews) - Lululemon Athletica Inc. (LULU), Tuesday said it has appointed Calvin McDonald to serve as Chief Executive Officer, effective August 20.

McDonald as been serving as President and CEO of Americas for Sephora, an acknowledged growth engine within the LVMH family of global luxury brands. McDonald will become a member of lululemon's Board of Directors.

"Calvin McDonald has an impressive track record leading organizations through periods of significant growth and innovation. He is the ideal match for the lululemon brand and culture given his strong consumer mindset, performance-driven approach, and success developing people," said Glenn Murphy, chairman of the Board of Directors of lululemon.

"I'm joining lululemon at an exciting time, with the brand's strong business momentum, guest loyalty and passionate employees," said McDonald. "I look forward to working with the talented team at lululemon to deliver long-term growth through great product, constant innovation, and serving guests however they choose to engage with us, today and into the future."

Murphy returns to serving as non-executive Chairman of the Board and will ensure a smooth leadership transition. The three executives, Celeste Burgoyne, Stuart Haselden and Sun Choe, who successfully guided the day-to-day operations of lululemon since February will report to McDonald.

Prior to joining Sephora in 2013, McDonald spent two years as President and CEO of Sears Canada. He also honed a broad range of retail and leadership skills during a 17-year period at Loblaw Companies Ltd., the largest retailer in Canada.