1.     As lululemon has failed with skincare products and Mirror, what have the directors learned and is there any one director who understands the lululemon sales process so 800 million in losses can be avoided in the future?

2.     Did any Private Equity board member recuse themselves from the vote to acquire Mirror due to a conflict of interest?

3.      Who on the board was fired for gross negligence in recommending the Mirror process?

4.      Clearly, ex lululemon Chairman Glenn Murphy inserted his failed “Gap” merchant led model into lululemon resulting in reproducing more of what sold in the past. Why would the lululemon governance committee recommend Glenn for another term as a director?

5.      Alo and Vuori are providing a premium experience to lululemon due to lululemon’s Gap model. Is lululemon reacting and if so, what are specific director deficiencies required to counter lululemon’s consistent four-year market reaction lag time?

6.      Are all directors privy to the exact questions asked by lululemon shareholders at virtual AGMs?

7.      Chairwoman Morfit is the second Chair to lie to shareholders with her “rephrasing” of the first question at lululemon’s 2022 virtual AGM.  Will the Chairwoman now ask the actual question asked and provide an authentic response?

8.      If Chairpersons continue to lie to shareholders at virtual AGMs, then why have virtual AGMs and why ask shareholders to ask questions? 

9.      If all directors are privy to “rephrased” shareholder questions, would you concur all directors are complicit?

10.  Chairwoman Morfit, what do you estimate the cost to the lululemon market cap from a board who flaunts integrity only when beneficial to the directors?

Lululemon’s largest single shareholder,
Chip Wilson

June 2022 lululemon AGM letter