Lululemon writes letter to shareholders

(CNN)– Lululemon has written a public letter to shareholders denouncing the company’s founder as “misguided” in his attempts to revive the ath-leisure brand.

Chip Wilson is the company’s second-largest shareholder who stepped-down as CEO in 2005.

In recent years he’s accused the company of losing its appeal and criticized management decisions including DEI efforts.

In its letter to shareholders Monday, May 18, Lululemon accused Wilson of trying to regain influence over a company he left over a decade ago.