Lululemon announced the appointment of Chip Bergh, the former President and Chief Executive Officer of Levi Strauss & Co., to its Board of Directors, effective March 17, 2026. The company also disclosed that current director David Mussafer will retire from the board at the end of his term and will not seek reelection at the 2026 annual meeting.
Key Details
- New Director: Chip Bergh joins the board as a Class I independent director. He served as President and CEO of Levi Strauss & Co. from 2011 to 2024 and previously spent 28 years at Procter & Gamble.
- Board Retirement: David Mussafer, who currently serves as lead director, will retire at the 2026 annual meeting of stockholders. His decision was not the result of any disagreement with the company.
- Board Size: The board was temporarily increased from 9 to 10 members for the appointment and will be reduced back to 9 members following the annual meeting after Mr. Mussafer's retirement.