Lululemon's CEO resigns, company cites misconduct

Lululemon's CEO has resigned after the company claims he "fell short" of its standards of conduct.Laurent Potd...

Posted: Feb 6, 2018 10:47 AM
Updated: Feb 6, 2018 10:47 AM

Lululemon's CEO has resigned after the company claims he "fell short" of its standards of conduct.

Laurent Potdevin, who headed the athletic apparel company since January 2014, has also stepped down from the company's board of directors, effective immediately.

Chairman Glenn Murphy will serve as executive chairman in the interim, and three other senior leaders will take on additional responsibilities.

"Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Mr. Potdevin fell short of these standards of conduct," the company said in a release Monday afternoon.

The company didn't say how he fell short of its standards. Lululemon didn't immediately respond to a request further comment.

Related: Under Armour is in serious trouble

Potdevin is not leaving empty-handed.

He will be paid a lump sum of $3.35 million cash and $1.65 million over 18 monthly installments starting two months after he leaves, according to a regulatory filing.

Potdevin came on board after CEO Christine Day stepped down in 2013. She left after the company's infamous recall of see-through black yoga pants, which hit sales and profits hard. Then in 2015, Lululemon had to recall some women's tops because hard-tipped drawstrings were injuring wearers.

Related: Lululemon nosedives 21%: Its spring leggings are boring

Last March, the company admitted its leggings were too boring to attract online shoppers, and its shares fell sharply.

Shares were down around 3% after hours on Monday after news of Potdevin's resignation.

--Julia Horowitz contributed to this report.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 751826

Reported Deaths: 13811
CountyCasesDeaths
Marion1033581790
Lake557861011
Allen41721692
St. Joseph37001565
Hamilton36612417
Elkhart29416461
Tippecanoe22926227
Vanderburgh22559400
Porter19364326
Johnson18481389
Hendricks17692317
Clark13231195
Madison13166344
Vigo12629253
LaPorte12425221
Monroe12219176
Delaware10969198
Howard10343225
Kosciusko9636121
Hancock8578147
Bartholomew8172157
Warrick7862156
Floyd7814180
Grant7246179
Wayne7165201
Boone6976103
Morgan6764141
Dubois6222118
Marshall6211116
Cass6023110
Henry5903110
Dearborn589878
Noble581688
Jackson509476
Shelby502296
Lawrence4749122
Gibson445395
Clinton443255
Harrison441775
DeKalb440085
Montgomery438890
Whitley406643
Huntington403181
Steuben400559
Miami395669
Jasper388855
Knox377491
Putnam373461
Wabash362383
Ripley347370
Adams345555
Jefferson336186
White332453
Daviess3033100
Wells295381
Decatur289892
Greene286885
Fayette284864
Posey273835
LaGrange273172
Scott270156
Clay267148
Washington246236
Randolph245183
Jennings235349
Spencer234631
Starke228058
Fountain221448
Sullivan214643
Owen212258
Fulton203443
Jay201032
Carroll193820
Orange188255
Perry187237
Rush175926
Vermillion175144
Franklin170435
Tipton166646
Parke149616
Pike138334
Blackford136232
Pulaski120748
Newton114436
Brown104443
Benton102514
Crawford102516
Martin91815
Warren84015
Switzerland8158
Union72810
Ohio57911
Unassigned0424

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1109374

Reported Deaths: 20213
CountyCasesDeaths
Franklin1288561469
Cuyahoga1158492216
Hamilton814161251
Montgomery525741049
Summit484431006
Lucas43380824
Butler39066606
Stark33348930
Lorain25690506
Warren24607305
Mahoning22383602
Lake21216389
Clermont20133253
Delaware18873136
Licking16668225
Fairfield16582204
Trumbull16559483
Medina15615273
Greene15289248
Clark14240306
Wood13296200
Portage13251216
Allen11916239
Richland11610211
Miami10857225
Wayne9147225
Columbiana9038230
Muskingum8908135
Pickaway8663122
Tuscarawas8654251
Marion8646139
Erie8058165
Ashtabula7171179
Hancock6998133
Ross6946163
Geauga6843151
Scioto6536106
Belmont6159174
Union584849
Lawrence5739102
Jefferson5681159
Huron5550122
Sandusky5444126
Darke5420129
Seneca5350128
Washington5323109
Athens524360
Auglaize502287
Mercer487585
Shelby477095
Knox4573112
Madison444566
Ashland435897
Putnam4335104
Defiance432399
Fulton432174
Crawford4045110
Brown402561
Logan387678
Preble3858105
Clinton379166
Ottawa373581
Highland359966
Williams348478
Champaign344959
Guernsey325254
Jackson318354
Perry297350
Morrow291840
Fayette285550
Hardin275565
Henry273667
Holmes2703101
Coshocton269260
Van Wert247264
Adams243256
Pike242835
Gallia240850
Wyandot234756
Hocking220663
Carroll197448
Paulding176642
Meigs148540
Monroe136345
Noble136239
Harrison114138
Morgan110024
Vinton85717
Unassigned03
Fort Wayne
Partly Cloudy
66° wxIcon
Hi: 75° Lo: 56°
Feels Like: 66°
Angola
Mostly Cloudy
66° wxIcon
Hi: 73° Lo: 55°
Feels Like: 66°
Huntington
Partly Cloudy
65° wxIcon
Hi: 75° Lo: 54°
Feels Like: 65°
Decatur
Partly Cloudy
66° wxIcon
Hi: 75° Lo: 55°
Feels Like: 66°
Van Wert
Partly Cloudy
65° wxIcon
Hi: 76° Lo: 55°
Feels Like: 65°
The warming trend continues into Thursday with highs reaching into the middle 80s.
WFFT Radar
WFFT Temperatures
WFFT National

Community Events