Lululemon shares drop as new CEO appointment leaves investors unimpressed
By Joel Jose
Published on April 23, 2026.
Lululemon shares have dropped 38% in the last year, reducing its market value to $18.8 billion. The company's new CEO was chosen by activist investor Elliott Investment Management, who has a roughly $1 billion stake in Lululem. Analysts attribute the sharp decline to the appointment of O'Neill, who played a significant role in resetting the brand and bringing product development to market faster. However, an ongoing proxy battle between Wilson and Elliott continues to escalate.
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