In an effort to revitalize the brand and outperform its competitors, Lululemon (NASDAQ: LULU) is implementing an updated, “more integrated” organizational structure along with the resignation of the company's chief product officer, Sun Choe.
Although Choe's position is not fill up, Lululemon (lulu) will create a new team comprised of leaders from its Merchandising and Brand units, with Nikki Neuberger named Director of Brand and Product Activation to oversee Merchandising, Footwear and Product operations. Elizabeth Binder, Director of Merchandising, will now report to Neuberger.
Global creative director Jonathan Cheung will now lead design and product strategy as head of design, innovation and product development, reporting directly to CEO Calvin McDonald.
“Looking ahead, I am confident in the strength of our Design, Merchandising and Brand teams, and I am excited about how the new structure will allow us to solve the unmet needs of our guests in a more efficient, unique and powerful way. ”said CEO McDonald.
News of Choe's departure weighed on shares, pushing LULU further into the red after closing lower for the fifth day in a row.
