Lululemon Appoints Former Nike Executive, Heidi O’Neill, as CEO
Lululemon Athletica announced on Wednesday, April 22, 2026, the appointment of former Nike executive, Heidi O’Neill, as its new Chief Executive Officer. Effective from September 8, this move concludes a four-month search following the departure of former CEO Calvin McDonald earlier in the year.
O’Neill, previously serving as Nike’s President of Consumer, Product and Brand, will receive an annual salary of $1.4 million, with an annual target bonus of 200% of that salary, as per regulatory filings. With a 26-year tenure at Nike, she played a pivotal role in transforming the company from a $9 billion business into a $45 billion athletic brand, overseeing product pipeline, brand voice, and operations.
The new appointment comes at a time when Lululemon is grappling with significant challenges. These include weak sales, increased competition, and escalating costs from tariffs, which are expected to reach $380 million this year. The company’s stock has seen a drop of approximately 50% since June 2025, and in its most recent quarter, sales in the Americas—its largest market—fell 5% on a constant-dollar basis.
Following the announcement, Lululemon shares fell as much as 12%, highlighting investor skepticism about the brand’s ability to regain its past growth. O’Neill’s key responsibilities will include reinvigorating product innovation, deepening cultural relevance, and managing international expansion. As part of its growth strategy, the retailer plans to open approximately 15 new North American stores in 2026, including eight in Mexico.
Source: CNBC