Lululemon CEO resigned in part due to romantic relationship with designer

Laurent Potdevin resigned from the top spot and from Lululemon’s board of directors

A relationship between the CEO of Lululemon Athletica Inc. and a former designer at the company is one of several instances in which the chief executive fell short of the retailer’s standards of conduct, a source familiar with the matter said Wednesday.

Laurent Potdevin resigned from the top spot and from Lululemon’s board of directors effectively immediately last Friday.

There was a range of incidents that contravened the company’s conduct code, the source said — including a years-long relationship with a designer who left the company in 2014 but continued working as a contractor later on, though the company did not renew her contract this year.

Potdevin could not be reached for comment about the workplace relationship, while Lululemon declined to respond.

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

He and the company reached a separation agreement that will see the ex-CEO receive $3.35 million cash and a further $1.65 million in monthly instalments over 18 months, according to a filing with the U.S. Securities and Exchange Commission.

Potdevin agreed not to sue the company and to co-operate with it in the future, among other stipulations, in exchange.

While the retailer’s board of directors is searching for a new CEO, some shareholder advocates and analysts are calling on the company to disclose more information about the abrupt resignation. At least two U.S. law firms have launched investigations into the company.

Potdevin took over as CEO at Lululemon from Christine Day after she announced plans to leave the company. The board of directors appointed him in December 2013. He previously served as president for TOMS Shoes and CEO of Burton Snowboards.

Aleksandra Sagan, The Canadian Press


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Kodiaks begin best-of-seven series strong

The Kodiaks opened their quarter-final playoff series by defeating the Delta Ice Hawks on home ice.

Heritage proposal for Aldergrove fire hall at a ‘standstill’

The Alder Grove Heritage Society faces a delay in knowing the fate of the fire hall due to tenants slated to live in the building until 2020.

Langley hosting high-flying fun at annual gymnastics tournament

Action runs Friday through Sunday at the Langley Events Centre fieldhouse.

BREAKING: Plecas won’t run in next election if legislature oversight reforms pass

B.C. Speaker and Abbotsford South MLA says he feels ‘great sympathy’ for Jody Wilson-Raybould

Langley Secondary students rehearse upcoming musical comedy

The Langley Secondary Musical Theatre Company presents Guys and Dolls on Feb. 22.

VIDEO: How much snow do you have?

Langley residents are being asked to share images of their snow to enter for a $20 coffee card.

Stabbing at Lower Mainland banquet hall sends man to hospital

RCMP says victim has ‘non-life threatening’ injuries, incident still under investigation

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Ontario police field complaints over Amber Alert for missing girl, 11, found dead

Some said the Amber Alert issued late Thursday for Riya Rajkumar disrupted their sleep

Former B.C. premier Gordon Campbell accused of sexual touching

Accuser went to police, interviewed by Britian’s Daily Telegraph

B.C. couple attacked with acid, slashed with knife in Vietnam

Warning, graphic images: Man has burns on 80 per cent of his body, slashed with knife

Northern B.C. First Nation clan says ancient tools found at pipeline work site

Archeologists from the Smithsonian Institute estimate one of the stones found dates back up to 3500 years

Man taken to hospital for smoke inhalation, burns after fire at RV park

Firefighters find man suffering from smoke inhalation, burns to face and hands: battalion chief

Most Read