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"Lululemon needs visionary creative leadership to thrive. The simple truth is that the current board lacks these skills."

Shares of the company, which trade on the Nasdaq index, were up US$1.60 at US$210.57 on Monday.

The nominations come after the company announced earlier this month that current CEO Calvin McDonald would step down from his role effective Jan. 31, with the search for a new leader underway.

McDonald had been at the helm of Vancouver-based Lululemon for seven years and will serve as a senior adviser through March 31 of next year.

Wilson, who remains a large shareholder in the company, said the CEO change was a third "total failure" of board oversight with no clear succession plan in place. He has said the search for a replacement should be led by new, independent directors.

His three candidates for the board include Marc Maurer, former co-chief executive of On Holding AG, Laura Gentile, former chief marketing officer of ESPN and Eric Hirshberg, former chief executive officer of Activision.

Meanwhile, activist investor Elliott Management has built a stake of more than US$1 billion in Lululemon and is pushing for the struggling retailer to name former Ralph Lauren executive Jane Nielsen as its next chief executive.

Elliott attributes Lululemon's recent struggles partly to increased competition, which has prompted it to offer discounts on more of its products. It also points to the retailer's increasing pivot to ventures outside its core business.

Lululemon did not immediately respond to a request for comment.

This report by ºÃÉ«tvwas first published Dec. 29, 2025.