After a year of working in a dual role as Lululemon Athletica Inc.’s chief financial officer and chief operating officer, Stuart Haselden will be able to focus solely on the latter.
Lululemon is bringing on Patrick J. Guido as its new cfo at the end of the month, taking over the role from Haselden, who was hired as cfo in 2015 and last year took on the role of chief operating officer, as well.
“With an impressive track record at major retail and consumer companies, PJ has deep experience guiding businesses during periods of substantial economic expansion,” Haselden said.
Guido has been a vice president and treasurer of VF Corp. since 2011 and before that, worked about five years as assistant treasurer of Home Depot and earlier in his career worked at Saks Fifth Avenue, before it was acquired by Hudson’s Bay Corp.
His starting salary at Lululemon is $520,000 and he will receive a signing bonus of $300,000. He will also be eligible for a yearly performance bonus of up to 75 percent his salary, according to a financial disclosure.
Guido said he’s “excited” to join Lululemon as a brand with “so many untapped opportunities.”
“I look forward to supporting Stuart and the team in delivering on the company’s strategic goals and realizing the full global potential of Lululemon,” he added.
Those goals include hitting $4 billion in revenue by 2020. Lululemon ended its last fiscal year with $2.6 billion in sales, an increase of 13 percent over the prior year.
Lululemon’s financial performance has remained steady over the last several months despite a number of executive shake-ups, including the sudden resignation of its chief executive officer Laurent Potdevin over some “misconduct.” Various press reports based on anonymous employees have said Potdevin was inappropriate with some employees and promoted a workplace culture based on favoritism, but the former executive has said nothing publicly since his resignation and the company has declined to clarify.
A few months prior, the brand’s creative director Lee Holman resigned for “personal reasons.” The company has said it’s looking to fill the role and there is an open job posting for the position on the company web site, but it’s only for a one-year contract.
Glenn Murphy, who’s acting in an oversight role from his position as chairman, said last month that a search for a new ceo is well under way.
“We’ve met with a number of great candidates and people who put their hands up for this role,” he said. “The board is very confident in our ability to find a top, proven, global consumer executive. We’re going to take our time and meet as many people as we can before we make a decision.”
While still under Potdevin’s leadership last year, Lululemon also brought on Rémi Paringaux as brand creative director, a role focused on a wide range of creative content and experiences across the Lululemon brand, not product design.
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