The World Economy Will Be ‘Back to Normal’ By End of Next Year
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June 1 (Reuters) - Lululemon Athletica Incs founder Chip Wilson called for annual election of the Canadian yogawear retailers board to hold members accountable for the companys performance. Wilson, in a letter to shareholders on Wednesday, said that a declassification of the board would make more responsive to shareholders as opposed to a staggered board, which results in entrenched directors and management. Wilson, the companys largest shareholder, said he was not convinced that Lululemon had the right leadership to make changes necessary to win in the current global, multi-channel and dynamic environment. The companys shares were up 1.4 percent at $65.94 in afternoon trading. (Reporting by Manish Parashar in Bengaluru; Editing by Kirti Pandey) View comments
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