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Lululemon puts Nike veteran in charge of product as CEO O'Neill looks to right ship - Finance news and analysis from Global Banking & Finance Review
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Lululemon puts Nike veteran in charge of product as CEO O'Neill looks to right ship

Published by Global Banking & Finance Review

Posted on October 7, 2026

2 min read

· Last updated: October 7, 2026

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Lululemon Names Nike Veteran Maggie Gauger as Chief Product Officer

Lululemon's Leadership Overhaul and Strategic Changes

Oct 7 (Reuters) - Lululemon Athletica on Wednesday named industry veteran and former Nike vice president Maggie Gauger its chief product officer as the struggling apparel maker overhauls its leadership under new CEO Heidi O'Neill.

Challenges Facing Lululemon

Investors are closely watching O'Neill's turnaround plan as the sportswear maker grapples with finding its footing against newer rivals and keep pace with changing customer preferences beyond its signature leggings.

Key Details on Leadership Appointments

Here are more details:

Maggie Gauger's Appointment

• Gauger will join Lululemon on October 26, and was most recently CEO of Gap's performance apparel brand Athleta, following a long stint at Nike, alongside O'Neill

• Gauger takes charge of product at Lululemon at a time the company has struggled with product missteps that have triggered consumer backlash and recalls

Other Executive Changes

• Lululemon also appointed Joseph Godsey as chief operating officer

• "This is an important first step in reinvigorating our enduring connection with guests and is designed to establish the foundation for sustainable, long-term growth," O'Neill said of the appointments

Financial Performance and Outlook

• Lululemon's shares have nearly halved in value so far this year, and are on track for a third straight year of declines

• The company's net income is expected to drop nearly 40% this year from fiscal 2024, according to data compiled by LSEG

Departures and Interim Leadership

• Lululemon also said chief brand officer Nikki Neuburger and chief supply chain officer Ted Dagnese would leave the company, effective November 6, and that it was searching for candidates to fill the roles

• It added that CFO Meghan Frank would oversee global brand and technology functions until those appointments are made

Reporting and Editorial Credits

(Reporting by Juveria Tabassum in Bengaluru; Editing by Diti Pujara)

Key Takeaways

  • Maggie Gauger, ex‑Nike and most recently Athleta CEO, to join as CPO on October 26 amid product‑related challenges and recalls.
  • Joseph Godsey named COO; chief brand and supply chain officers to exit November 6, with CFO overseeing those functions interim.
  • Lululemon shares have nearly halved year‑to‑date, with net income projected to decline ~40% vs FY2024. Gauger’s appointment adds product leadership amid deep investor concern amid a prolonged turnaround.

Frequently Asked Questions

Who has Lululemon appointed as its new chief product officer?
Lululemon has named Maggie Gauger, a former Nike vice president, as its new chief product officer.
Why is Lululemon changing its leadership?
Lululemon is revamping its leadership under CEO Heidi O'Neill to address declining share value and product missteps.
Which other major executive appointments did Lululemon announce?
Lululemon appointed Joseph Godsey as chief operating officer and confirmed departures of chief brand and supply chain officers.
What financial challenges is Lululemon facing in 2024?
Lululemon's shares have halved and its net income is expected to drop nearly 40% this year compared to fiscal 2024.
What is the immediate role of CFO Meghan Frank after the leadership changes?
CFO Meghan Frank will oversee global brand and technology functions until new appointments are made.

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