lululemon athletica inc. (NASDAQ:LULU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
inc. appointed Glenn Murphy as a member of the board of directors.
Mr. Murphy will serve as Co-Chairman of the board of directors. Mr.
Murphy is the CEO of FIS Holdings, a consumer focused investment
firm. Prior to founding FIS Holdings, he served as Chairman and CEO
of The Gap, Inc. from 2007 to 2014. Prior to that, Mr. Murphy
served as the Chairman and Chief Executive Officer of Shoppers Drug
Mart from 2001 to 2007. He is a graduate of the University of
Western Ontario. Our board of directors believes his extensive
retail experience as a leading strategic operator will provide
valuable insight to our board of directors. Michael Casey, who has
held the Co-Chairman role since 2014, will step down as Co-Chairman
but will continue as a member of the board of directors.
directors increased the size of the board from nine to ten members
and Mr. Murphy will serve as a Class I director to fill the
newly-created vacancy. Because Mr. Murphy will serve as a member of
the class of directors whose terms expire at the 2017 annual
meeting of stockholders, our stockholders will have the opportunity
to vote on his nomination as a continuing Class I director at the
meeting on June 8, 2017.
consistent with that of our other non-employee directors. A
description of our standard compensation arrangements for
non-employee directors is included in our proxy statement filed
with the Securities and Exchange Commission on April 19, 2016. We
expect Mr. Murphy to enter into our standard form indemnification
agreement for non-employee directors, the form of which is filed
with the Securities and Exchange Commission as Exhibit 10.16 to our
Registration Statement on Form S-1 dated July 9, 2007.
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Item 9.01.
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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99.1
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Press release issued on April 7, 2017.
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About lululemon athletica inc. (NASDAQ:LULU)
Lululemon Athletica Inc. is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth. The Company conducts its business through two channels: Company-operated stores and direct to consumer. It operates approximately 360 Company-operated stores located in the United States, Canada, Australia, New Zealand, the United Kingdom, Singapore, Hong Kong, Germany and Puerto Rico. Its direct to consumer segment includes lululemon and ivivva e-commerce Websites, www.lululemon.com and www.ivivva.com, and other country and region specific Websites. lululemon athletica inc. (NASDAQ:LULU) Recent Trading Information
lululemon athletica inc. (NASDAQ:LULU) closed its last trading session down -0.15 at 50.63 with 5,038,769 shares trading hands.