Monday, December 9, 2013
Laurent Potdevin New Lulu CEO
Laurent Potdevin, lately of Toms, Burton, and LVMH is the new CEO of lululemon. In addition, Chip Wilson is stepping down as non-executive Chairman of the Board of directors. From my 30 seconds of googling his background, Potdevin seems like a good choice. I guess time will tell.
Update - from a Globe and Mail article about the appointment,
"Mr. Potdevin, who most recently was president of Toms Shoes, said he will build on his background in expanding companies globally. He said he learned early on that product quality is of key importance, which is a focus he’ll bring to Lululemon." [emphasis mine]
Music to our ears, Mr. Potdevin!
Update #2 - Business Insider actually likes the hire (and they've been hating on lululemon pretty hard for months now) and quote as one reason:
"Lululemon fans approve. Prominent blogger LuluAddict writes on her blog that Potdevin seems like a good hire. This is a huge deal because of Lululemon's massive online fan base, which has deteriorated somewhat in light of recent issues."
I'm sure it's reassuring to Wall Street and Potdevin that I've given my approval, lol. (Oh, and by the way Business Insider, check my page view stats, the online fan base is as strong as ever. We're choosey about what we buy but Lulu has been having a pretty good fall and holiday season so far.)
Update #3 - Another video:
Posted by LuluAddict at 10:17 PM