Lululemon CEO exits after failing to meet conduct standards

Laurent Potdevin is also no longer on the Vancouver-based retailer’s board of directors

Lululemon CEO Laurent Potdevin addresses the Gateway Conference in Toronto on Sept. 25, 2017. (Christopher Katsarov/The Canadian Press)

Lululemon Athletica says its CEO has left the company after failing to meet its standards of conduct.

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

He is also no longer on the athleisure retailer’s board of directors.

In a filing to the U.S. Securities and Exchange Commission, it says it will pay Potdevin $5 million over a year and a half in exchange for Potdevin agreeing not to sue, among other stipulations.

Lululemon says its board of directors has immediately begun searching for a new CEO.

The retailer also promoted Glenn Murphy to executive chairman of the board, and announced three senior officers will take on additional responsibilities and report to Murphy.

The Canadian Press

Just Posted

Vernon tattoo fundraiser draws tons of support

Lineup around the block for start and beginning of Five Fathoms Tattoo event for Children’s Hospital

Vernon Tigers, South Okanagan Flames play to wild draw

Thompson Okanagan Junior Lacrosse League match ends 17-17; overtime solves nothing

Okanagan adventurer continues motorcycle trip around the world

Vernon local James Leigh recently completed the third of five legs of the journey, travelling through China and Kazakhstan

Okanagan-Shuswap Weather: Most long-weekend rain has already fallen

A mix of sun and cloud is expected for the last two days of the the Victoria Day weekend.

Riders “step up” their game at Equestrian Clinic

Riders from across the Okanagan travelled to Coldstream to train for the 2019 55+ Senior Games, which take place in Kelowna this fall.

UPDATE: B.C. pilot killed in Honduras plane crash

The crash happened in the Roatan Islands area, according to officials

Carbon dioxide at highest levels for over 2.5 million years, expert warns of 100 years of disruption

CO2 levels rising rapidly, now higher than at any point in humanity’s history

Fundraising campaign for church shooting victim exceeds goal

A seperate campaign for the man killed in the April 14 shooting is nearing $25,000 raised.

Crews responding to car crash in West Kelowna

A collision has been reported at the intersection of Carrington Road and Butt Road.

Court decision prompts regional district to throw flood mitigation back at province

Public safety minister maintains Newsome Creek concerns in hands of local government

Woodworth purchased Summerland rink, created butcher operation

Giant’s Head Rink had been one of three facilities in Summerland

Get those flowers competition ready

Gardeners will come together June 29, for the 22nd Juried Flower Show

B.C. ferry stops to let black bear swim past near Nanaimo

Queen of Oak Bay brakes for wildlife in Nanaimo’s Departure Bay

Some South Okanagan students are $1,000 richer

Million Dollar Bursary Program offers bursaries each year to Interior Savings’ young members

Most Read