Lululemon founder Dennis “Chip” Wilson has submitted a formal notice to nominate three director candidates for election at the company’s 2026 Annual Meeting of Shareholders. The notice names industry veterans with backgrounds in retail, digital transformation and supply chain management. Wilson’s move follows years of dialogue with the lululemon Board and leadership team, during which the board engaged in extensive discussions to understand his strategic perspectives on brand positioning, global expansion and sustainable sourcing practices.

Shares of lululemon have climbed 14% over the past month, fueled by better-than-expected third-quarter results and a raised full-year outlook. The quarter saw international same-store sales growth of 22%, offsetting a 7% decline in U.S. comparable-store sales and margin pressures from elevated freight and raw material costs. Management attributed the stronger outlook to expanding digital revenues, which now represent 38% of total sales, and accelerated store openings across Europe and Asia.

The proxy battle comes as lululemon prepares for CEO Calvin McDonald’s planned departure next year, prompting investors to focus on the board’s succession planning process. The board has indicated that it seeks a leader with deep experience in global brand scaling and e-commerce innovation. Wilson’s nominees are proposed to bring fresh expertise on unlocking growth in emerging markets and enhancing direct-to-consumer profitability, aligning with lululemon’s stated goal of achieving 25% annual growth in international channels over the next three years.