Lululemon ends proxy battle with founder Chip Wilson - Reuters

<a href="https://news.google.com/rss/articles/CBMingFBVV95cUxNV0FQSXJBd0hBdHhLVGlvNDJ3MmhVZ1QwdnNFMDJ0UjUzM3Z4SDNLcmhDN3VTNjZSZWJ1ZjhhUVlBMWFBdEhHX011Ulp1djVFVVU3d1BCa3BGeW5aVFU3dmtzNUQ0c05MNTRKaC1pbXhxR3g0WWpsMWJKdzFHNmZORWZZeld1d0ZNcTk5Nml3SlZBbjZyQ0NHNWpvdjZYdw?oc=5" target="_blank">Lululemon ends proxy battle with founder Chip Wilson</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Lululemon Athletica has settled its proxy fight with founder Chip Wilson, granting him board seats in exchange for his commitment to support the company during the transition to a new CEO.

Lululemon Athletica Inc. announced a cooperation agreement with founder Dennis J. Chip Wilson, who holds approximately 8.7% of the company’s outstanding common stock, according to a press release statement.

Lululemon Athletica has settled its proxy fight with Chip Wilson, giving the athletic apparel maker's founder board seats in exchange for a pledge that he will give the company peace as a new chief executive takes over the helm.