Summary by Moomoo AI
Lululemon Athletica Inc. announced significant changes to its organizational structure following the resignation of Sun Choe, the company's Chief Product Officer, on May 15, 2024. Choe, who has been with Lululemon for seven years, will remain active until the end of May and officially leave on June 21, 2024. The company has decided not to replace the Chief Product Officer role. Instead, it is implementing a new, more integrated structure to support growth and accelerate product innovation. Jonathan Cheung, the Global Creative Director, will now report directly to CEO Calvin McDonald and will continue to oversee Design, Innovation, and Product Development. Additionally, a new team will be formed to scale global and regional go-to-market strategies, led by Nikki Neuburger as Chief Brand & Product Activation Officer. Elizabeth Binder, Chief Merchandising Officer, will report to Neuburger. These changes are aimed at enhancing efficiency and meeting customer needs more effectively. Lululemon will report its Q1 2024 financial results on June 5, 2024, after market close.
