Lululemon AI and Technology Chief Departs Amid Looming CEO Transition
Lululemon's chief AI and technology officer Ranju Das has departed, according to a securities filing dated Thursday. The exit follows the reported departure of Chief Strategy Officer Rachel Acheson, raising concerns among analysts about talent turnover ahead of new CEO Heidi O'Neill's arrival.
Lululemon's chief AI and technology officer has left the company, according to a securities filing that marked his departure date as Thursday. Ranju Das, who joined the retailer less than a year ago, was tasked with leading the technology organization while enhancing product innovation and speed. His appointment had coincided with the planned departure of longtime CIO Julie Averill, which the company described at the time as part of a leadership transition.
In response to inquiries about Das's exit, a Lululemon spokesperson said: “Ranju Das has left lululemon. We are grateful for his contributions and wish him well in his next chapter. We are conducting a global search for our next Technology leader and have full confidence in our current Technology teams to continue delivering on our priorities.”
The athletics retailer did not respond to questions about the reasoning behind Das's departure or whether it was connected to the exit of Chief Strategy Officer Rachel Acheson, which Bloomberg reported earlier this week citing anonymous sources. Lululemon did not confirm Acheson's departure to Retail Dive.
BNP Paribas Equity Research senior analyst Laurent Vasilescu commented on both departures in an analyst note Friday, saying the firm is “increasingly concerned about talent turnover” at Lululemon. “We are concerned with the two c-suite departures considering that the new CEO Heidi O’Neill has yet to start,” Vasilescu wrote. “We anticipate that there may be more employee turnover over the coming months.”
New Lululemon chief O’Neill is set to start in September. A 30-year Nike veteran, O’Neill’s appointment was met with hesitation and disappointment from many corners, though others see her as a logical CEO choice for an athletics retailer in need of a turnaround.
Lululemon has struggled in recent years to hit the right trends, and the rise of other athleisure brands has pulled price-wary shoppers elsewhere. Even recent attempts to inject newness into the assortment have fallen short, leading the company to slash its guidance.
Lululemon’s Q1 revenue was up 4% overall in Q1, but the brand continued to see declines in the Americas, its largest region. A protracted campaign against Lululemon’s board and leadership team by founder Chip Wilson was settled in May, but dented the company’s performance in Q1.