Lululemon Names New CEO; Founder Chip Wilson to Step Down

High-end yoga-wear retailer Lululemon Athletica Inc. named Lauren Potdevin as its chief executive and said founder Chip Wilson will step down as non-executive chairman.

Lululemon has been looking for a new CEO since June, when Christine Day said she would step down once a replacement was found.

Potdevin will take over in January 2014 from Day, who was behind Lulu's blistering growth rate and its transition from yummy mummy niche to broader, multi-sport appeal. Potdevin joins from TOMS Shoes and has earlier worked with Burton Snowboards and LVMH.