Lululemon Appoints Former Nike Executive Heidi O’Neill as New Chief Executive Officer

Lululemon Athletica Inc. announced the appointment of Heidi O’Neill, a 27-year veteran of Nike, Inc., as its new Chief Executive Officer and a member of the board of directors, effective September 8, 2026. Ms. O'Neill most recently served as President of Consumer, Product & Brand at Nike.

Key Details

• Appointment: Heidi O’Neill will assume the role of Chief Executive Officer on September 8, 2026. The current interim co-CEOs, Meghan Frank and Andre Maestrini, will continue in their roles until the transition.
• Compensation Package: Ms. O'Neill's employment agreement includes an annual base salary of $1,400,000, a target annual performance bonus of 200% of her base salary, and eligibility for annual equity awards valued at approximately $10,000,000.
• Inducement Awards: The package also features a one-time $2,000,000 cash retention bonus and one-time equity grants of $2,800,000 in restricted stock units (RSUs) and $4,200,000 in stock options, both vesting over two years.