Lululemon Names Nike Veteran Heidi O’Neill as New CEO

Lululemon Athletica has selected a performance apparel veteran with three decades of experience — Heidi O’Neill — as its new CEO, effective Sept. 8, 2026. O’Neill has spent most of her career at Nike, most recently as President of Consumer, Product and Brand, where she helped grow the company from a $9 billion business to a $45+ billion global powerhouse.

“Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation and a global platform still in the early stages of its potential,” said O’Neill in a statement.

“As I step into the CEO role in September, my job will be to build on that foundation — to accelerate product breakthroughs, deepen the brand’s cultural relevance and unlock growth in markets around the world.”

Until O’Neill officially begins her new role, Meghan Frank and André Maestrini will continue to lead Lululemon as Co-CEOs, after which they will return to their previous senior leadership roles as CFO and Chief Commercial Officer, respectively.

For many months, Lululemon has been the object of intense criticism from its Founder and largest shareholder Chip Wilson, who has faulted the company’s leadership for the retailer’s lackluster financial performance and lack of a strong succession plan.

Longtime CEO Calvin McDonald stepped down from the role in January, and Wilson has been vocal about his desire to see a revamp of the current board before a new CEO was appointed. That didn’t end up happening, although Lululemon did appoint former Levi Strauss & Co. President and CEO Chip Bergh to its board of directors in March.

For its 2025 fiscal year, which ended Feb. 1, 2026, Lululemon increased net revenue 5% compared to the previous FY, reaching $11. 1 billion. The increase was almost entirely due to international net revenue, which increased 22%, compared to a 1% decrease in Americas net revenue.

Comparable sales for this period increased 2%, again fueled by international growth.