Calvin McDonald to Step Down as Lululemon CEO in January 2026
Calvin McDonald will step down as CEO of Lululemon at the end of January 2026 after leading the company for more than seven years. His departure comes following a period of weak sales in the U.S. and a nearly 50% drop in Lululemon's share price over the past year. Despite this, the company recently upgraded its full-year revenue forecast after reporting better-than-expected sales in recent months.
The decision was made after discussions with the board, with leadership confident that the current management team is well-positioned as the five-year strategy nears completion. International sales, particularly in China, helped boost overall performance while sales in the Americas remained weak. The company also faces challenges from tariffs and the ending of the de-minimis exemption, estimated to cost around $240 million this year.
Net revenues through the beginning of November reached $2.6 billion. In the interim period while searching for a new CEO, Meghan Frank and André Maestrini have been named co-interim chief executives. Board Chair Marti Morfitt expressed gratitude to McDonald for his leadership during a time when the Lululemon brand significantly grew and expanded.
