Lululemon chief executive Laurent Potdevin has resigned after over four years at the helm, amid unspecified "conduct" problems, the apparel company said Monday. "Culture is at the core of Lululemon, and it is the responsibility of leaders to set the right tone in our organization. According to a filing with the U.S. Securities and Exchange Commission, Lululemon has reached a separation agreement with Potdevin dated Feb. 2. Under the deal, Potdevin cannot sue Lululemon and must co-operate with the company, among other conditions. Shares of Lululemon closed down 1.5 per cent on Monday, finishing at $77.41 US on Nasdaq.

Source: CBC News February 05, 2018 21:52 UTC