Chip wilson exercises lululemon board nomination right with appointment of kathryn henry

Vancouver--(business wire)--chip wilson, founder of lululemon athletica, inc. (nasdaq: lulu) and a holder of 14.5 percent of the outstanding shares of the company, today announced that he exercised his board nomination rights to appoint kathryn henry to the lululemon board of directors. “it’s a great day for lululemon employees and shareholders,” mr. wilson said. “the appointment of kathryn to the board is an important first step in the implementation of changes that are needed with respect to culture and knowledge of technical vertical retailing. kathryn is intimately familiar with the company, having served as lululemon’s chief information officer, and svp distribution logistics. she understands both the company’s business and the importance of its culture—a culture that provided best in class financial metrics.” “i also continue to believe changes are needed with respect to corporate governance,” he said. ms. henry was originally recruited by lululemon as cio in 2010 and was responsible for building it organization and business operating capabilities in support of company growth across all channels, brands and geographies. her role was expanded to include responsibility for global logistics and distribution and during her tenure, ms. henry built teams across it, distribution and logistics that contributed to lululemon’s historical growth. while at the company, ms. henry built strategic vendor relationships and led establishment of the company’s ecommerce foundation that contributed revenue growth of more than 300% while delivering over $16 million in annual savings. “in addition to her understanding of technical omni-channel retailing, kathryn will bring to the board an understanding and appreciation of the soft side of the business -- the un-measurable factors that made lululemon great and unique, such as culture and training,” mr. wilson added.
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