Vancouver, British Columbia — This month, lululemon athletica inc. announced that Calvin McDonald plans to step down as chief executive officer and member of the company’s board of directors, effective Jan. 31, 2026. McDonald and the board are working together to facilitate a smooth transition, and he will serve as a senior advisor to the company through March 31, 2026. The board is conducting a comprehensive search process in partnership with a leading executive search firm to identify the company’s next CEO.
Additionally, Marti Morfitt, chair of the board, will take on the expanded role of executive chair, effective immediately. Meghan Frank, chief financial officer, and André Maestrini, chief commercial officer, will serve as interim co-CEOs following McDonald’s transition. Both interim co-CEOs bring extensive global retail experience and proven track records of driving growth at lululemon.
Since joining lululemon in 2018, McDonald has guided the company through a period of significant growth and innovation. Under his leadership, lululemon has more than tripled its annual revenues, and the company expects to generate $11 billion in annual revenue this fiscal year. He also broadened lululemon’s global reach to over 30 geographies and grew the company’s China Mainland business into its second largest market.
“Serving as CEO of lululemon has been the highlight of my career, and I am incredibly proud of everything our team has accomplished over the last 7 years,” says McDonald. “Together, we have transformed the athletic apparel industry and the opportunity ahead for lululemon is substantial. I believe the outstanding product pipeline we’ve built, and action plan we’ve put into place, will yield positive results, and deliver value to shareholders in the months and years ahead. I am committed to fully supporting the transition and helping guide our leadership team in my advisory role as they execute against our strategy.”
Morfitt joined the lululemon board in 2008 and was appointed chair in 2022. She has been a principal at River Rock Partners since 2008. In addition, she held various senior leadership positions, including CEO of Airborne and president and CEO at CNS.
Frank has served as lululemon’s CFO since 2020. She joined the company in 2016 as senior vice president, financial planning and analysis. Prior to lululemon, she held senior finance and merchandise planning roles at Ross Stores and J. Crew.
Maestrini was appointed lululemon’s president and chief commercial officer in 2025. He joined the company in 2021 as executive vice president of international. Prior to lululemon, he spent 14 years at adidas in various senior roles around the globe.
lululemon athletica inc. is a technical athletic apparel, footwear and accessories company for yoga, running, training and most other activities. lululemon has over 780 company-operated locations across nearly 25 markets around the world. For more information, visit www.lululemon.com.
SOURCE: lululemon athletica inc.