ExNike Exec Named New Lululemon CEO

News Source : Newser

News Summary

Heidi O'Neill will take over as CEO of Lululemon on Sept. 8.
She spent 25 years at Nike and helped grow it from a $9 billion to a $45 billion business.
Analyst Neil Saunders called her a "safe and traditional" pick but also an "obvious choice" She'll start off with a $1.4 million base salary, according to an SEC filing.
It follows a noisy campaign by founder Chip Wilson, who has criticized the company's performance and pushed unsuccessfully for his own slate of board nominees.

Lululemon is betting its turnaround on a veteran of one its rivals. The Vancouverbased apparel company said on Wednesday that former Nike executive Heidi ONeill will take over as CEO on Sept. 8, en [+397 chars]

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