Lululemon has appointed former Nike executive Heidi O’Neill as its next CEO after her predecessor was ousted amid shareholders’ displeasure with the global retailer’s performance.

O’Neill will assume the role and join the board effective September 8, and will be based in the athletica-apparel giant’s Vancouver-based global headquarters.

“Heidi is an inspiring leader and proven, consumer-driven brand strategist, with a rare ability to both imagine a new future for a brand and to create the structure and processes to deliver on that vision,” said Marti Morfitt, Lululemon’s executive chair. “The board conducted an extensive search to identify the right next leader to propel Lululemon forward. We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent.”

O’Neill will succeed Calvin McDonald, who was removed by the board amid shareholders’ complaints about declines in the company’s stock price. Founder Chip Wilson, who no longer works for the company but remains a large shareholder, has called for a revitalization of the company, including a complete overhaul of the board. Wilson has sought to place three of his own nominees on the board.

O’Neill brings more than three decades of experience in performance apparel, footwear and sport to the company. During her 27-year tenure at Nike, she helped grow the company from a more than $9-billion business to a more than $45-billion global leader, overseeing product development, brand strategy and operations while strengthening connections with consumers and athletes worldwide. Earlier in her career, she held marketing roles with the Dockers brand at Levi Strauss.

“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. “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.

“I am humbled by the opportunity and energized by what the team is already building. I look forward to joining the company and helping to define and deliver the organization’s next chapter of success.”

Meghan Frank and André Maestrini will continue as interim co-chief executive officers until O’Neill joins, after which they plan to return to their previous senior leadership roles.

“Meghan and André have seamlessly stepped in to lead the business as interim co-CEOs and, together with their teams, are advancing our plans and strategies with speed and agility, focused on product creation, product activation, and enterprise enablement,” said Morfitt. “Lululemon has an outstanding group of leaders who operate with discipline and have fostered a culture of excellence that will provide a strong foundation for Heidi to build on as she steps into the CEO role.”

Pictured: Lululemon flagship store in downtown Vancouver.

Photo: Lululemon