Lululemon CEO exits after failing to meet conduct standards

Laurent Potdevin is also no longer on the Vancouver-based retailer’s board of directors

Lululemon CEO Laurent Potdevin addresses the Gateway Conference in Toronto on Sept. 25, 2017. (Christopher Katsarov/The Canadian Press)

Lululemon Athletica says its CEO has left the company after failing to meet its standards of conduct.

The company says in a statement that it “expects all employees to exemplify the highest levels of integrity and respect for one another and (Laurent Potdevin) fell short of these standards of conduct.”

He is also no longer on the athleisure retailer’s board of directors.

In a filing to the U.S. Securities and Exchange Commission, it says it will pay Potdevin $5 million over a year and a half in exchange for Potdevin agreeing not to sue, among other stipulations.

Lululemon says its board of directors has immediately begun searching for a new CEO.

The retailer also promoted Glenn Murphy to executive chairman of the board, and announced three senior officers will take on additional responsibilities and report to Murphy.

The Canadian Press

Just Posted

Chilliwack prolific offender a no-show for sentencing hearing

Warrant issued on May 17 for Jeffrey Michael Kizmann wanted for robbery

UPDATED: Pedestrian fatally hit on railway in Agassiz

Police, fire and ambulance responded

UBC study shows dairy cows prefer pasture, reap health benefits from outdoor access

With freshet season in full swing, Fraser Valley dairy farmers might be… Continue reading

Fraser Valley Children’s Choir wins first in ‘Sing Me a Song’ contest’s under 18 category

The group will be visited by B.C.’s Lieutenant Governor, who will present them with their award

VIDEO: Dash cam video captures allegedly stolen vehicle in Harrison Hot Springs

RCMP report a vehicle was stolen in Chilliwack May 17, spotted in Harrison and dumped in Deroche

Police release video on how to ‘run, hide, fight’ if there’s an active shooter

Vancouver police offer video with input from E-Comm, BC EHS, Vancouver Fire and Rescue

B.C. mom who died just before daughter’s wedding wanted family to be happy: twin

Ann Wittenberg was pulled into the ocean while on a surf board in Tofino last weekend

Courtenay-Alberni MP calls for lifeguards at popular surf spot near Tofino

The Pacific Rim National Park Reserve is defending its decision to cancel the surf guard program.

Harvey Weinstein to surrender in sex misconduct probe: officials

Would be first criminal charge against Weinstein since scores of women came forward

Fuel truck crash closes B.C. highway, sends two to hospital

The Trans-Canada Highway on Vancouver Island is expected to be closed until Thursday evening

Letter to the editor: Put our great grandchildren first

I am shocked how media is using their power to create stories… Continue reading

Media are not an arm of the police, Vice lawyer tells Supreme Court hearing

Ben Makuch challenges Ontario Court of Appeal ruling that he must give materials for stories to RCMP

B.C. launches plan to tackle doctor shortage, emergency room congestion

John Horgan aims to set up regional primary care networks in a ‘team-based’ approach

Vancouver, Squamish pipeline challenges dismissed by court in B.C.

Justice Christopher Grauer ruled the province’s decision to issue the certificate was reasonable

Most Read