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

Husky robbery suspect caught

A man suspected of robbing the Husky gas station and convenience store… Continue reading

BCHL Bulldogs are for sale

The Port Alberni Junior Hockey Society seeks a buyer after six full seasons of operation

Changes coming to BC Ferries reservations for Vancouver Island routes

Many customers are booking multiple reservations, inflating wait times

Port Alberni will consider cannabis bylaws at committee of the whole meeting

Members of the public are invited to provide input

Port Alberni Black Sheep win match against Island rivals

Black Sheep squared off against the Nanaimo Hornets for TC Cup action

Six students arrested, charged in sex assault probe at Toronto all-boys school

The school’s principal, Greg Reeves, described the video of the alleged sexual assault as ‘horrific’

Jamie Koe, other curlers kicked out of bonspiel for being too drunk

‘You don’t kick around other players’ bags, it’s disrespectful and we expect better of our players’

Homicide victim found under B.C. bridge identified as Hells Angels member

Chad John Wilson was one of four men arrested in Spain in 2013 on allegations of smuggling cocaine.

B.C. Sikh temple vandalized with racist graffiti

Racist graffiti was found on the side of the building this morning

Shots fired near Chicago hospital, multiple victims: police

Police say at least one possible offender has been shot

B.C. to allow ride hailing services to operate in 2019

Fee will be applied to fund options for disabled people

Elections BC keeps eye on Canada Post dispute, but no change in Nov. 30 deadline

Vote No spokesman say an extension of one or two weeks would ensure all ballots are counted

Langley school pulls Japanese ‘rising sun’ flag after student petition

School district promises consultation with students and parents, defends using flag for war history

Most Read