lululemon athletica inc. announced the appointment of Chip Bergh, former President and Chief Executive Officer of Levi Strauss & Co., to its Board of Directors, effective immediately as of March 17, 2026. Mr. Bergh will serve as a Class I director with an initial term expiring at the 2026 annual meeting of stockholders (the Annual Meeting). Mr. Bergh will serve on the Corporate Responsibility, Sustainability, and Governance Committee and the People, Culture, and Compensation Committee.
With this addition, lululemon has added five new independent directors to the Board in the last five years, reflecting the Board's commitment to ongoing refreshment. Mr. Bergh will stand for election at lululemon's 2026 Annual Meeting of Shareholders in lieu of David Mussafer, who has notified the Company that he does not intend to stand for re-election at the conclusion of his current three-year term. Since first joining the Board in 2005, David has served in numerous roles, including Co-Chairman from 2014 to 2017.
Chip Bergh most recently served as President and Chief Executive Officer of Levi Strauss & Co. from 2011 to 2024 and served on its board during that time. Prior to joining Levi Strauss & Co., Mr. Bergh spent 28 years at Procter & Gamble in roles of increasing scope and complexity across brand management, general management, and executive leadership.
Mr. Bergh has served on the board of HP Inc. since 2015, where he currently serves as non-executive chair, and also serves on the boards of e.l.f. Beauty Inc. and Pinterest Inc.; he previously served on the board of VF Corporation. Mr. Bergh is a Senior Lecturer of Business Administration at Harvard Business School and holds a bachelor's degree in international affairs from Lafayette College. On March 13, 2026, David Mussafer, a member of the Board, informed the Board that he plans to retire from the Board at the end of his current term and will not stand for reelection at the Annual Meeting.
Immediately following the Annual Meeting, the size of the Board will be reduced from 10 to 9 members. Mr. Mussafer currently serves as lead director and chair of the Corporate Responsibility, Sustainability and Governance Committee. Mr. Mussafer's decision to not stand for reelection was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.
