Lululemon Names Nike Vet Heidi O'Neill as CEO

0:00Lulu Limon's shares dropped more than 13% yesterday right after the company named Heidi O'Neal as his new chief executive officer. The former Nike executive is set to start on September 8th and join the board too. This move came a day earlier, shaking up investors big time. O'Neal spent years in Nike, starting back in 1998, where she helped turn their athletic business from $9 billion into a $45 billion powerhouse. The announcement highlighted her growth track record, and she called Lulu Limon just getting started on his potential. Analysts are split on the pick. One expert from BNP Paribas says, the market wants to turn around boss right now, not another growth chaser since Lulu Limon has lost some edge to rivals, like Allo and Vory. Shoppers complain about still products in too many sales, dimming the brand's glow. Sheer has been building from big shareholders, including founder Chip Wilson and activist Elliott Management.

1:00They have pushed hard since the last CEO stepped down in December, demanding fixes for the falling stock and tougher competition. Neither has weighed in yet on O'Neal. Others praise her active wear know-how, and board seats as spots like Spotify and Hyatt, saying she could spark fresh ideas and better customer vibes. As Lulu Limon fights to reclaim its spot, her leadership will be the real test moving forward. That wraps Calgary News today. Brought to you with AI. I'm Cori with The Story.