Lululemon (LULU) founder and activist investor Chip Wilson is seeking to remove private equity firm Advent’s influence from the company’s board in an ongoing proxy contest, Rohan Goswami of Semafor reported, citing people familiar with his position. Wilson, who stepped down from the board in 2015 but remains Lululemon’s second-largest shareholder, launched the proxy fight late last year as the company searched for a new chief executive. Although Wilson has said he is not seeking a board seat for himself, he has reportedly made clear that he will not agree to any settlement unless two long-standing directors tied to Advent step down.
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