lululemon athletica inc. announced that Patrick Guido, Chief Financial Officer, will depart the company, effective 8th May, 2020, in order to assume a leadership position outside of the apparel industry. Mr. Guido joined lululemon in 2018.
While the company begins the search to identify a successor, Meghan Frank, Senior Vice President, Financial Planning & Analysis, and Alex Grieve, Vice President and Controller, will lead the finance team and ensure a smooth transition. Both will report to Calvin McDonald, Chief Executive Officer of lululemon, on an interim basis.
“We would like to thank PJ for his dedication and many contributions to lululemon. Over the past two years, he has helped us to grow and strengthen lululemon’s finance organization. We are fortunate to have two leaders, Meghan and Alex, who are well prepared to take on expanded responsibilities and lead the finance organization on an interim basis,” said Mr. McDonald.
Mr. McDonald added, “I want to express my confidence in lululemon’s leadership team and the strength of our business model, which is enabling us to effectively navigate COVID-19 while continuing to invest in our Power of Three growth strategy. We are confident lululemon will attract an experienced Chief Financial Officer who has successfully guided a broad-based portfolio.”
SEE ALSO : Japan’s Isetan to exit Thailand
The company’s search for its next Chief Financial Officer will begin immediately and will include both internal and external candidates.