Lululemon is the yoga pant brand of choice for women everywhere—whether they actually do yoga or not. But BuzzFeed reports that a shake-up at the top of the company means that there are no women executives to represent the brand's biggest clients.
The company announced recently that Tara Poseley, who had served as chief product officer, was leaving the company because her position was being eliminated. Lee Holman has been brought on as creative director instead. With that swap, the top five managers at the company are all men, even though three out of four were women a few years ago.
New CEO Laurent Potdevin, who used to be the president of Toms, replaced Christine Day last year; Day stepped down after the embarrassing see-through-pants incident put the company in a PR crisis. When Day ran the company, there was only one male executive in the C-suite, but now, the highest-ranking women are in VP and senior VP roles. Lululemon has an open position for Chief Supply Chain Officer, so there's still a potential to add a woman to the top ranks.
The executive shuffle brings up a key issue: do you need women in charge when a company's customers are mostly women? Though Lululemon's menswear division is doing well, it only makes up about a fifth of the products in stores, according to Fortune. The company opened a store dedicated to men's activewear in New York City for the first time last year.
Overall, Lululemon's sales have been better than expected recently, but Reuters reports that the company's stock has gone down because of questions about profit margins and supply chains. So we'll just have to wait and see if an all-dude executive team can keep the momentum going.
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