Lululemon’s (LULU) board members have been under pressure, with directors dealing with a proxy fight from the company’s estranged founder, a big-name activist investor waiting for its opportunity, and the board being pushed to recruit a new CEO, Lauren Thomas and Suzanne Kapner of The Wall Street Journal reports. When Lululemon hired former Nike (NKE) executive Heidi O’Neill as CEO, they thought they successfully selected its new CEO, but the pick backfired. Lululemon shares have been falling, with analysts critiquing O’Neill’s tenure at Nike and investors complaining she won’t start her job for four months.
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