Lululemon's stock is rallying after the company announced a cooperation agreement with founder Chip Wilson, ending a contentious proxy battle and removing a major overhang for the stock.
- As part of the deal, two new independent directors, Laura Gentile (former CMO of ESPN) and Marc Maurer (former Co-CEO of On), will join the board.
- The agreement resolves a months-long dispute that had created uncertainty around the company's governance and strategic direction.
- Wilson, who owns approximately 8.7% of the company's stock, has agreed to customary standstill and non-disparagement provisions.