Lululemon shares dive on new CEO pick — as investors fear she may not have chops to save struggling company
By Lisa Fickenscher
Published on April 23, 2026.
Lululemon Athletica's shares have fallen by as much as 12% following the announcement of Heidi O'Neill as its new CEO. Investors believe she lacks the chops to solve the company's problems. Lululemo has been under pressure for over a year and has seen two proxy fights erupt over its financial performance. O'Neil succeeds Calvin McDonald, who resigned in January amid declining sales in 2025 and new product misses. Despite these setbacks, O'Negan has expressed optimism about the company’s future and plans to build on this foundation.
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