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Lululemon CEO leaves company following misconduct

  • Who's Where
  • February 8, 2018
Lululemon CEO leaves company following misconduct

CEO of Lululemon, Laurent Potdevin, has resigned after a reported relationship with a fellow Lululemon employee. Investors for the company have taken it well, with only a brief drop in shares.

Now leaderless, Potdevin was CEO of the appeal giant for just four years. Replacing Christine McCormick Day in 2013.

Reasons for the spilt were kept vague, with the company stating he had amid unspecified "conduct" problems.

The retailer made the announcement after the stock market closed, and said the move was effective immediately.

"Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Potdevin fell short of these standards of conduct," the company said in a release without elaborating.

Executive chairman Glenn Murphy, and COO Stuart Haselden are expected to step up and cover responsibilities while the role is filled.

Shares dropped briefly on Monday after the announcement, but picked back up on Tuesday and Wednesday. 

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My Food Bag appoints new chief executive Kevin Bowler

  • Who's Where
  • May 18, 2018
  • Sarah Dunn
My Food Bag appoints new chief executive Kevin Bowler

My Food Bag founders and co-chief executives Cecilia and James Robinson are to move into strategic and governance roles following the appointment of new CEO Kevin Bowler. Bowler formerly lead Tourism New Zealand and Frucor Suntory.

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Don’t stop me now

  • Opinion
  • May 17, 2018
  • Satish Ranchhod
Don’t stop me now

In terms of retail spending, New Zealand households ended 2017 with a bang, and it looks like the party has continued in the early part of 2018. However, despite this firmness in spending levels, retail price inflation remains stubbornly low, writes Satish Ranchhod, Westpac senior economist.

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Back in time: Hannahs

  • News
  • May 17, 2018
Back in time: Hannahs

With 50 stores gracing central business districts from Whangarei to Invercargill, it’s easy to forget that there was ever a high street before Hannahs. And actually, at 150 years old, the shoe chain may well pre-date some Kiwi towns.

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