Brands
IndusInd Bank chairman Sunil Mehta steps down, Arijit Basu takes charge
MUMBAI: IndusInd Bank is turning a page at the top, as veteran leader Sunil Mehta wraps up his tenure as part-time chairman on 30 January 2026. The Board and management expressed heartfelt thanks for Mehta’s steady guidance, applauding his role in steering the bank through challenging times.
Stepping into the spotlight is Arijit Basu, appointed as part-time chairman from 31 January 2026 for a three-year term, pending shareholder approval. Basu brings a glittering résumé to the role, having previously served as managing director of State Bank of India and MD & CEO of SBI Life Insurance. He has also chaired HDB Financial Services and sits on the boards of Prudential Plc, CleanMax Enviro Energy Solutions, and several other firms.
Basu’s appointment follows approval from the Reserve Bank of India and recommendations from the bank’s Compensation and Nomination & Remuneration Committee. With a seasoned hand taking charge, IndusInd Bank signals continuity at the top, even as it prepares for its next phase under new leadership.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
