Lululemon Athletica Inc. announced on Wednesday that it has named former Nike executive Heidi O'Neill as its new chief executive officer. O'Neill is expected to begin the role and join the company's board of directors on September 8.
The athletic apparel maker is looking to move beyond a turbulent period characterized by slowing growth and investor unrest. O'Neill arrives tasked with addressing a disappointing sales outlook and arresting sagging sales.
In addition to financial concerns, O'Neill must navigate ongoing tensions between the company's founder and the board. She will also be responsible for refreshing the brand's designs and resolving recent product mishaps, including the sale of see-through leggings.