Shares of Lululemon Athletica Inc. were up in early trading after reports that activist investor Elliott Management has taken a more than US$1-billion stake in the retailer.
Citing unnamed sources, the Wall Street Journal first reported the fund has been working with Jane Nielsen, a former chief financial officer and chief operating officer at Ralph Lauren, as a potential chief executive candidate.
Lululemon announced earlier this month that CEO Calvin McDonald will be stepping down from his role effective Jan. 31.
Lululemon founder Chip Wilson, who remains a large shareholder in the company, has raised concerns about the company and pushed for changes.
He has said the CEO search should be led by new, independent directors.
Lululemon shares were up US$12.39 or about six per cent at US$220.26 in trading on the Nasdaq.
This report by The Canadian Press was first published Dec. 18, 2025.
