Lululemon athletica inc. announced a major change in its leadership team.
The apparel maker said that Patrick (“PJ”) Guido, CFO, will depart the company, effective May 8, 2020. Guido, who joined Lululemon in 2018, is leaving the company to become CFO of auto retailer Asbury Automotive Group Inc.
Lululemon’s search for a new CFO will begin immediately and will include both internal and external candidates. For the interim, Meghan Frank, senior VP, financial planning & analysis, and Alex Grieve, VP and controller, will lead the finance team and ensure a smooth transition. Both will report to CEO Calvin McDonald on an interim basis.
“Over the past two years, he [Guideo] has helped us to grow and strengthen lululemon’s finance organization,” said McDonald. “We are fortunate to have two leaders, Meghan and Alex, who are well prepared to take on expanded responsibilities and lead the finance organization on an interim basis.”