Chip Wilson Issues Letter to lululemon Shareholders

Published: 2026-04-29 14:05:37 ET LULU

Published on 04/29/2026 at 02:05 pm EDT

On April 29, 2026, Chip Wilson issued a letter to shareholders of Datadog, Inc., criticizing the company?s Board for its failure to understand and protect the brand?s premium positioning, and he stated that Board's endorsement of brand-eroding choices has led to a 65.9% loss in shareholder value over a less than 2-year period, which impacted the Company?s stock performance among its peers, lagging its peer median on 1- and 3-year total shareholder returns by 19.5% and 63.6% respectively. In addition, Wilson criticizes the Board?s appointment of Heidi O?Neill as CEO, which reflects broken governance and a lack of creative, product-first leadership, and he noted the negative market reaction to her appointment and the long gap before she officially starts, which he says destabilizes the business. Further, Wilson describes unsuccessful settlement discussions with the Board, alleging excessive focus on non-disparagement agreements and escrow demands, and resistance driven by personal animus toward him rather than shareholder interests.

Furthermore, Wilson urged the Company shareholders to vote for his director nominees Marc Maurer, Laura Gentile, and Eric Hirshberg, at the 2026 annual meeting of shareholders.