Chip Wilson, founder and former chairman of Lululemon Athletica, is using Washington-based Sphere Consulting in his very public squabble with the board of directors of the yoga garment maker.
He contends directors are more focused on short-term results rather than either corporate culture or long-term growth prospects.
The company issued a statement June 11 saying its board is “aligned with the Company's core values and possesses the necessary expertise to successfully lead lululemon forward.” Lululemon said the board “contrary to Mr. Wilson's assertions,” is “aligned with the company's core values and possesses the necessary expertise to successfully lead lululemon forward.
Wilson voted June 11 against re-election of current chairman Michael Casey and RoAnn Costin, president of Wilderness Point Investments.
The Wall Street Journal and Washington Post ran stories about Wilson’s effort to shake-up the board of directors.
The Journal speculated that Wilson, who stepped down from the chair post last month, “intends to continue to assert himself in the running of the company.”
Lululemon today cut its revenue and profit forecast for its current fiscal year following a tumble in 1Q profit to $19M from $47M.
Sphere’s Addison Smith is advising Wilson.
The company uses ICR for Wall Street work and Joele Frank, Wilkinson Brimmer Katcher for media outreach. It brought in Weber Shandwick late last year amid the corporate shakeup that included Wilson's ouster.
Business leaders will face challenges in the upcoming year, some of which will come as a complete surprise, or beyond anyone's imagination.
Teneo has hired Philipp Grontzki, who is a 20-year veteran of corporate communications and financial journalism, as a managing director in its strategy and communications group.
Rowan Benecke, who co-founded Zeno Group and helmed Burson-Marsteller's tech practice, has joined McKinsey & Co as director of communications for North America.
BCW has named Golin's Matt Coldagelli EVP and leader of its corporate affairs practice in Chicago.
Abby Bailey, who headed corporate communications for Fedex in its Middle East, India and Africa region, has joined Teneo as managing director in Dubai.
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