Lululemon CEO exits after failing to meet conduct standards

Laurent Potdevin is also no longer on the Vancouver-based retailer’s board of directors

Lululemon CEO Laurent Potdevin addresses the Gateway Conference in Toronto on Sept. 25, 2017. (Christopher Katsarov/The Canadian Press)

Lululemon Athletica says its CEO has left the company after failing to meet its standards of conduct.

The company says in a statement that it “expects all employees to exemplify the highest levels of integrity and respect for one another and (Laurent Potdevin) fell short of these standards of conduct.”

He is also no longer on the athleisure retailer’s board of directors.

In a filing to the U.S. Securities and Exchange Commission, it says it will pay Potdevin $5 million over a year and a half in exchange for Potdevin agreeing not to sue, among other stipulations.

Lululemon says its board of directors has immediately begun searching for a new CEO.

The retailer also promoted Glenn Murphy to executive chairman of the board, and announced three senior officers will take on additional responsibilities and report to Murphy.

The Canadian Press

Just Posted

Armada boys drop first game of AAA North Island basketball championships

Alberni faces No. 1 seed Mark Isfeld in Saturday, Feb. 17 morning game

Alberni Armada senior girls play for Island bronze

Girls drop game to SMU, still have a shot at provincial basketball berth

Armada senior girls win first contest at AA Island championships

Hoops team faces SMU in game this evening at Mark Isfeld in Courtenay

Pension delays unacceptable, Courtenay-Alberni MP says

Some retiring vets, RCMP wait ‘months, years’

Valentine’s Day a busy one for Alberni RCMP

Cops deal with 39 calls in one shift, including numerous thefts from vehicles

North Island College opens its doors to Alberni, west coast students

More than 200 Grade 11 students check out programs offered at Alberni campus

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Snow expected to subside Sunday morning

Environment Canada issued a snowfall warning for east Vancouver Island between Duncan and Nanaimo

Canucks came out hot, beat Bruins 6-1

Loui Eriksson scores twice, catapulting Vancouver to a lopsided victory over Boston

Vancouver Island job market ever-evolving

Various sectors driving employment in region will be represented at Black Press career fair in Comox Feb. 8

B.C. man brings dog to court as ‘best witness’

Man is defending himself on charges of uttering threats, possessing weapon for dangerous purposes

Vancouver artist’s cartoon of Florida school shooting resonates

Cartoon shows football coach, one of the victims, meeting others killed in school shootings

Trudeau family arrives in India for state visit

Seven-day visit includes meeting with Indian Prime Minister Narendra Modi

Military seeks DNA experts to help ID missing war dead

Federal program recovers, identifies and arranges burials for Canada’s nearly 28,000 missing war dead

Most Read