The Financial Post reports in its Friday, Oct. 2, edition that Lululemon is delaying a key deliverable in a truce agreement with its outspoken founder, Chip Wilson. A Bloomberg dispatch to the Post reports that Mr. Wilson and Lululemon have agreed to extend an Oct. 1 deadline for naming a new board member. Lululemon added that it looks "forward to sharing an update soon," but did not provide details on the delay or how long the extension will be. The delay is the first road bump since a temporary truce in May brought months of public sparring between the two to a halt. The settlement stipulated that the company would take "all necessary actions" to appoint a new director to its board who has apparel and brand expertise. The search for a candidate began immediately after the settlement was reached. Both parties agreed at the time that this board member would be subject to Mr. Wilson's approval. As part of the settlement, Lululemon added two of three executives Mr. Wilson nominated to the company board and Mr. Wilson agreed to avoid disparaging the company for about 18 months. The company's shares have lost more than half their value this year.