Lululemon (LULU) Chairman Dennis Wilson sold $49.5M worth of the company's stock as part of a...

|About: Lululemon Athletica Inc. (LULU)|By:, SA News Editor

Lululemon (LULU) Chairman Dennis Wilson sold $49.5M worth of the company's stock as part of a prearranged 10b5-1 plan on Friday, the day that the board was notified that CEO Christine Day intended to leave. Shares plummeted 17% on Tuesday after Lululemon announced Day's departure the day before. Wilson had no influence on the trades that were made, Lululemon said.