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Inside the Lululemon C.E.O. Panic

Heidi O’Neill was the internal face of some of Nike’s biggest strategic mistakes. So how is the woman many blame for breaking Nike supposed to fix Lululemon? And what can she do about proxy warrior Chip Wilson, the company’s founder-turned-antagonist?

Heidi O’Neill
Why bring O’Neill into Lululemon, a company whose current slowdown and faltering product innovation bear a striking resemblance to what happened at Nike? Photo: Madison McGaw/BFA.com
Malique Morris
May 5, 2026

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Lululemon’s board was surely hoping for a better reception when the company announced last month that Heidi O’Neill, a 27-year Nike veteran, would be taking over as C.E.O. in September. Chief executive Calvin McDonald had stepped down in January after shares in the athleisure company lost half their value in a single year. The board was also presumably hoping to quell some of the drama arising from Lululemon’s proxy battle with its own estranged founder, Chip Wilson, over the company’s succession process and diminished brand identity.