Lululemon Shakeup: Elliott Takes $1B Stake, Plots CEO Change
Elliott Management has acquired more than $1 billion in Lululemon stock to push for fresh leadership. The activist investor is backing the candidacy of retail professional Jane Nielsen as its next CEO. This move comes after the imminent leave of Calvin McDonald, the chief executive officer. Lululemon has struggled with falling sales and rising competition. Founder Chip Wilson also demands urgent change. The brand faces a critical moment as pressure builds for a turnaround. Elliott’s involvement signals a possible shift in direction. The future of the athleisure giant now hangs in the balance.