The Globe and Mail reports in its Friday edition that Lululemon chief executive officer Calvin McDonald will step down at the end of January. The Globe's Susan Krashinsky Robertson writes that Lululemon shares have plunged by 50 per cent this year. Lululemon is seeking a new CEO as Mr. McDonald will leave the role on Jan. 31, 2026, and step down from the board, although he will remain as a senior adviser until March 31. Chief financial officer Meghan Frank and chief commercial officer Andre Maestrini will serve as co-CEOs on an interim basis until the search is complete. Although Lululemon was once dominant in the athleisure space, the brand's cachet has recently slipped, and rivals such as Alo Yoga and Vuori have been winning away customers with newer designs. In September, Mr. McDonald conceded that Lululemon's offerings had become "too predictable," leading to "fatigue" among loyal customers due to prolonged availability of certain styles, making the brand vulnerable to trendy rivals. Lululemon's outspoken founder Chip Wilson took out a full-page ad in The Wall Street Journal last month slamming the company for its "loss of cool" and criticizing "finance focused CEOs" who do not understand product and design.