Lululemon had been nearing settlement with founder Wilson, WSJ reports

Lululemon (LULU) was nearing a settlement with founder Chip Wilson in a long-running governance dispute, including drafting a joint press release, but negotiations collapsed after communications broke down, escalating tensions and setting up a contested annual meeting where shareholders will vote on competing board director nominees from both sides, The Wall Street Journal’s Lauren Thomas and Suzanne Kapner report. On Sunday, Executive Chair Marti Morfitt wrote to Wilson in an email that “We feel there is no genuine intention to work collaboratively with the Board and management.”