Lululemon might just be entering a new—and improved—era.

On Thursday, December 11, the athleisure apparel company shared a mostly positive third-quarter earnings report and announced the departure of its CEO, Calvin McDonald.

McDonald will leave Lululemon Athletica on January 31, after seven years in the post. He previously served as CEO of Sephora Americas.

The last year has been one of underperformance for Lululemon. In October, the company’s controversial founder and largest independent shareholder, Chip Wilson, took out an ad in the Wall Street Journal criticizing Lululemon’s direction.

While he didn’t go as far as to name McDonald, Wilson wrote, “The board insists on operator/finance CEOs who can ‘speak Wall Street,’ rejecting the idea of a product-driven CEO. These types of finan

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