Lululemon’s (NASDAQ:LULU) corporate structure is getting a new look.
The Vancouver-based yogawear-maker announced after markets closed Wednesday (October 21) it’s eliminating the position of chief product officer (CPO) and creating the new role of creative director in its place.
CPO Tara Poseley, who joined Lululemon two years ago after serving as president of Kmart’s apparel division, will make her exit following a “transition period,” the company said in a statement.
"Standing out requires a fierce commitment to constant innovation,” Lululemon CEO Laurent Potdevin said in a release.
Poseley was named CPO in the wake of the apparel company’s mass recall in 2013 over yoga pants that turned see-through when customers bent over.
The recall eventually led to founder Chip Wilson’s resignation as board chairman after he made derogatory comments about some women’s bodies not fitting the pants.
Since then, profits have fallen in the wake of rising costs and the company even had to issue another big recall over drawstrings that were injuring customers.
Ex-Nike executive Lee Holman will take on many of Poseley’s duties as he assume the newly created position of creative director.
Holman, who was previously Lululemon’s vice-president of women’s clothing, is now overseeing product designs for both men and women.
He will report directly to Potdevin.
Meanwhile, many of the operational responsibilities Poseley oversaw will fall to chief financial officer Stuart Haselden.
