Calvin McDonald is stepping down in January after serving as Lululemon’s CEO since 2018. The activewear giant has experienced some struggles as of late, including layoffs
Lululemon CEO Calvin McDonald is stepping down from the activewear giant, exiting both his role as chief executive and his seat on the company’s board, effective January 31, 2026.
As of Friday afternoon, shares of Lululemon were up roughly 12% following the brand’s new earnings report and the CEO transition news.
McDonald will serve as a senior advisor through the end of March as the board conducts a search for the company’s next CEO.
Lululemon chief financial officer Meghan Frank and chief commercial officer André Maestrini will serve as interim co-CEOs following McDonald’s transition.
The move also sees board chair Marti Morfitt assume the expanded role of executive chair, effective immediately.
McDonald, who joined Lululemon as CEO in 2018, called the role the highlight of his career. During his tenure, Lululemon broadened its global reach and product portfolio, more than tripled annual revenue and is on track to generate roughly $11 billion this fiscal year, the activewear giant confirmed.
“Together, we have transformed the athletic apparel industry, and the opportunity ahead for Lululemon is substantial,” he said. “I believe the outstanding product pipeline we’ve built and the action plan we’ve put into place, will yield positive results and deliver value to shareholders in the months and years ahead. I am committed to fully supporting the transition and helping guide our leadership team in my advisory role as they execute against our strategy.”
The announcement came in tandem with Lululemon’s third-quarter fiscal 2025 earnings report, which showed revenue rising 7% to $2.6 billion.
McDonald added that he was encouraged by the brand’s early performance as it enters the holiday season.
The leadership shakeup follows a period of operational tightening for Lululemon. In June, the activewear brand laid off roughly 150 corporate employees amid tariff pressures and softer U.S. demand. Executives also flagged plans for modest price increases.
And in an increasingly competitive activewear market, where newer brands such as Vuori and Gymshark have catapulted to new heights, and Alo continues to surge, another legacy player is also recalibrating.
Earlier this month, Nike announced a sweeping leadership overhaul under CEO Elliott Hill as part of a broader turnaround effort, streamlining executive roles and refocusing the brand around a sports-first strategy.
