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Lululemon Athletica Inc. has named fashion and sportswear veteran Laurent Potdevin as its new CEO and announced the exit of its controversial founder from his non-executive chairman role as the yoga retailer closes a chapter on its toughest year to date.
Laurent Potdevin will take over for Christine Day as CEO in January. After managing the company through a recall of overly sheer yoga pants last June which led to a US$17.5-million writedown, Ms. Day announced in June that she would leave the company when her replacement was found.