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

WATCH: Murdoch defeats Jensen for mayor’s seat

Kevin Murdoch excited about strength of team joining him at the council table

Voters in Saanich and Victoria support creation of citizens’ assembly on amalgamation

Group will continue to keep pressure on Victoria and Saanich councils after amalgamation referendum

EDITORIAL: Voters across Greater Victoria embrace progressive ideas, new course in regional governance

Election results also reveal regional fissure between core and outer communities

Former councillor says new Saanich council blends a range of perspectives

Coun. Dean Murdock, who endorsed the four new elected councillor, says voters choose well

Last chance to vote in 2018 municipal election

Polls close Saturday night at 8 p.m. for mayoral, councillor and school board

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

POLL: Do you support amalgamation for communities in the Capital Region?

Residents in Victoria and Saanich will be voting on Oct. 20 on… Continue reading

Crime Stoppers most wanted for Greater Victoria for Oct. 19

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. Youtuber to seal himself ‘in a jar’ to demonstrate impacts of climate change

Kurtis Baute wants to see how long he can last in a 1,000 cubic foot, air-tight greenhouse

One of Taiwan’s fastest trains derails, killing at least 18

The train was carrying more than 360 people

Scheer marks one-year countdown to federal election with campaign-style speech

Conservative Leader insists that it will be Justin Trudeau who ‘makes it personal’

B.C. VIEWS: Residents have had enough of catering to squatters

Media myth of homeless victims offends those who know better

B.C. man sets new Canadian marathon record at Toronto Waterfront Marathon

Cam Levins ran it in two hours nine minutes 25 seconds

B.C. Liberals’ hopes high as Nanaimo by-election approaches

Historically safe NDP seat vacated by long-time MLA Leonard Krog

Most Read