Brands
Lululemon’s chief executive to step down as slowdown bites
CANADA: Lululemon is changing its top runner mid-race. Calvin McDonald will step down as chief executive by January 31, 2026, as the athleisure giant grapples with slowing sales and mounting investor pressure. Markets liked the move. Shares surged more than 10 per cent in post-market trading in New York.
The Vancouver-based company said it has launched a global search for its next chief, working with an executive search firm. In the interim, cfo Meghan Frank and chief commercial officer André Maestrini will serve as interim co-ceos, while board chair Marti Morfitt takes on an expanded role as executive chair.
The announcement landed alongside Lululemon’s third-quarter results, which underscored the challenge ahead. Net revenue in the Americas slipped 2 per cent, while international sales jumped 33 per cent, highlighting both strain at home and promise abroad.
McDonald, who has led Lululemon since 2018, said the role had been the highlight of his career and pledged to support the transition in an advisory capacity. His seven-year tenure delivered a 37 per cent rise in the company’s shares, though that lagged far behind the S&P 500’s 142 per cent gain over the same period. By Thursday’s close, Lululemon stock had fallen more than 50 per cent from its peak.
Pressure has been building. Chip Wilson, the billionaire founder and major shareholder, has openly pushed for board-level changes and a sharper focus on product innovation, adding urgency to the leadership reset.
Born and raised in Canada, McDonald joined Lululemon after leading Sephora Americas and Sears Canada, following a 17-year career at Loblaw Companies. He holds an mba from the University of Toronto and a science degree from the University of Western Ontario.
For now, investors are cheering the shake-up. But the real test lies ahead. A new leader will need to reignite growth, steady the core market and keep the brand stretching – without losing its balance.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
