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.