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

Saanich seals history with time capsule

Saanich will re-open time capsule in 2067

Canadian military gains valuable disaster experience at RIMPAC

Naval, air force and army personnel practise war activities, humanitarian relief

Croatia loses in World Cup final, Victoria fans still jubilant

“We’re just a small little country, we only have 4.5 million people, and look how far we’ve come.”

Park ambassador pilot going well at Mount Doug

Dog poop bags, litter and cigarette butts among ongoing park issues

From chip bags to dirty jars, touring Greater Victoria’s recycling processing plant

Cascades Recovery in Rock Bay processes about 66,000 kilograms of materials per day

Royal Victoria Yacht Club sends strong presence to BC Summer Games

Oak Bay athlete Max Chapman competes in sailing this week

Proposed charges will cost Saanich housing affordability

The head of the association representing home builders in the Greater Victoria… Continue reading

Non-union construction industry fears exclusion in B.C.

Premier John Horgan imposes ‘project labour agreements’ for public works

Trump, Putin sit down a bit late for closely watched summit

Trump and Putin arrived Monday at Helsinki’s presidential palace for a long-awaited summit.

In TV interview, Trump claims queen called Brexit ‘complex’

Asked the queen’s view on Brexit, Trump said: “She said it’s a very complex problem.”

Exotic corpse flower begins to emit its putrid scent at Vancouver conservatory

A unique and exotic tropical plant, acclaimed for its size and abhorred for its smell, is blooming at a Vancouver conservatory.

CREA reports June home sales down 10.7% from year ago, but up from May

The Canadian Real Estate Association says home sales in June were down 10.7 per cent compared with a year ago.

Tens of thousands give heroes’ welcome to Croatia team

Euphoria gave way to a mixture of disappointment and pride for Croatia fans after their national team lost to France in its first ever World Cup final.

Beacon Hill off to Little League provincials after big win in district final

Victoria team goes 7-0 for the week in Central Saanich, beats host team 10-1 in final

Most Read