Calvin McDonald, the CEO of Lululemon Athletica, will be leaving the Canadian multinational company next year. As per Reuters, his resignation shocker was delivered without any mentions of a replacement. Shortly after word broke cover and made headlines, the company’s stock surged around over 12%, according to The Kobeissi Letter.
Having been at the company’s helm for about seven years, McDonald will bid Lululemon farewell in January 2026. As of now, Reuters reports that finance chief Meghan Frank and chief commercial officer André Maestrini have been named as co-interim CEOs while the search for a new head is on.
Lululemon CEO resigns – announcement revealed
Taking to his official LinkedIn profile just hours ago, McDonald formally announced that he will be stepping down from his role as a CEO on January 31, 2026.
“This decision was something that I, along with the Board, have been discussing and carefully considered. As we near the end of our five-year strategy, and with our strong senior leadership team in place, we all agree that now is the time for a change,” he wrote on the professional SNS platform.
Affirming that he was proud all that he and Lululemon teams had accomplished since he the joined the company in 2018. ” We have quadrupled our international business and tripled our total revenue to more than $10 billion, while increasing our profitability,” he went on.
Noting further achievements, McDonald added, “We’ve driven industry leading omnichannel guest experiences, have become the #1 women’s activewear apparel brand in the U.S., and created significant growth in our men’s business. We expanded into new categories and activities, including tennis and golf. And we advanced our sustainability leadership through our Impact Agenda and strengthened our inclusive, people-first culture.”
McDonald also bared his heart, noting that he called it his “dream job” after joining Lululemon. The self-proclaimed triathlete said, “It exceeded every expectation. Thank you to everyone at lululemon who contributed to the growth and accomplishments we’ve shared, and for building something that I believe will deliver incredible value for years to come.”
Who is Calvin McDonald?
Though currently serving as the CEO of the technical athletic apparel, footwear and accessories company, the Canada-born executive previous worked as the President-CEO of SEPHORA (America) and Sears Canada. He also serves on the Board of Directors of Lululemon and The Walt Disney Company.
As per his LinkedIn profile, he secured his Bachelor of Science from Western University in London and MBA from University of Toronto – Rotman School of Management.
Trouble at lululemon
Although McDonald essentially painted a colourful picture of his time at the company, the Wall Street Journal had cited sources, claiming that founder Chip Wilson had voiced his frustration with marketing.
Reuters also reported souring US sales in recent times, with stock falling 61% over the last two years. On top of that, the pricey brand’s product execution also came under scrutiny, as its Alo Yoga brand failed to find solid footing in the market.