Search For Replacement Begins
UPDATE: Lululemon’s unexpected decisions to replace CEO Christine Day and de list from the Toronto Stock Exchange have caused some panic on the markets, with the company’s shares plummeting nearly 13 per cent in overnight trading.
VANCOUVER Lululemon Athletica Inc. (TSX:LLL) says it will begin looking for a new leader at the yoga clothing maker as chief executive Christine Day announced she is leaving the company,
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The company will also delist from the Toronto Stock Exchange later this month due to “minimal trading volume of its shares.” Lululemon is also listed on the Nasdaq market,
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The results met analyst expectations, according to a poll of analysts by Thomson Reuters,
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Revenue strengthened 21 per cent to $345.8 million from $285,
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Lululemon aims to remove its shares from the TSX on June 24, saying that the low trading volume “no longer justifies the expenses and administrative efforts associated with maintaining” a dual listing on both the Canadian stock exchange as well as the Nasdaq.
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