Lululemon poaches Athleta CEO as new chief product officer - CNBC
Lululemon has hired Athleta CEO Maggie Gauger as its new president and chief product officer as part of a broader leadership restructuring. The move coincides with the departure of two other senior executives as the company seeks to improve its product pipeline.
Why it matters
Executive turnover in the competitive athleisure market reflects broader efforts by major brands to pivot strategies and regain market share amid shifting consumer demand.
Lululemon announced Wednesday that Athleta CEO Maggie Gauger is joining the company as president and chief product officer, effective later this month.
The move marks the latest shake-up among the top executives in the increasingly competitive athleisure space: Gauger joined Athleta from Nike only last year.
Lululemon said Gauger's job is a newly created role. It also appointed Joseph Godsey as chief operating officer. Alongside the new announcements, Lululemon also said Nikki Neuburger, the company's chief brand and product activation officer, and Ted Dagnese, its chief supply chain officer, are leaving in November to "pursue other opportunities."
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