Sep 21, 2021
Lululemon seeking new CEO for Mirror unit as founder steps down
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Lululemon Athletica Inc. is looking for a new chief executive officer for its Mirror unit as its leader steps down just over a year after the at-home fitness company was acquired.
Brynn Putnam is leaving her role as CEO of Mirror but will continue to work as an adviser to the company through July, according to an internal memo Tuesday obtained by Bloomberg News. Putnam founded Mirror in 2016 and stayed on as CEO after the Vancouver-based company acquired it last year.
Lululemon named three internal executives to lead Mirror on an interim basis while it seeks a permanent successor: Chief Technology Officer Kristie D’Ambrosio-Correll, operations chief Olivia Lange and Tess Hales, the head of customer. Putnam will continue to help the company as it looks for “the right candidate to drive the brand’s next phase of growth,” according to the memo, which was signed by Lululemon CEO Calvin McDonald and Putnam.
The athleisure company acquired Mirror for US$500 million in June 2020, hoping to ride the home-fitness wave as the pandemic shut down gyms worldwide. Lululemon bought Mirror in the hopes of turning its home-exercise display that mimics a full-sized mirror into a platform to sell its fitness clothes.
A Lululemon representative declined to comment. CNBC reported earlier on the change.