- Lululemon (NASDAQ:LULU +2.8%) announces that former Gap CEO Glenn Murphy has been appointed to the company's board as co-chairman, effective immediately.
- In conjunction with Murphy's appointment, Michael Casey will step down from the role of co-chairman, but will remain a director on the board.
- The shakeup follows disappointing Q1 guidance from Lululemon and a wave of analyst downgrades.
- Previously: Tailspin for Lululemon after warning on 'slow start' to 2017 (March 29)
- Previously: Analyst pessimism rains down on Lululemon (March 30)
- Source: Press Release