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Lululemon founder adds Kathryn Henry to BoD
05
Feb '16
Founder of Lululemon Athletica Chip Wilson, who holds 14.5 per cent of the outstanding shares, has exercised his board nomination rights to appoint Kathryn Henry to the Lululemon board of directors.

A press release said that Kathryn Henry was originally recruited by Lululemon as CIO in 2010 and was responsible for building IT organisation and business operating capabilities.

Her role was expanded to include responsibility for global logistics and distribution and during her tenure; Henry built teams across IT, distribution and logistics that contributed to lululemon's historical growth.

While at the company, Henry built strategic vendor relationships and led establishment of the company's ecommerce foundation that contributed revenue growth of more than 300 per cent.

“The appointment of Kathryn to the board is an important first step in the implementation of changes that are needed with respect to culture and knowledge of technical vertical retailing,” Chip Wilson said.

“Kathryn is intimately familiar with the company, having served as CIO and SVP Distribution Logistics and understands both the company's business and the importance of its culture,” Wilson too added.

“I also continue to believe changes are needed with respect to corporate governance,” he observed.

The press release further added that in addition to her understanding of technical omni-channel retailing, Kathryn will bring to the board an understanding and appreciation of the soft side of the business. (AR)

Fibre2Fashion News Desk – India


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