Gap veteran joins Lululemon board

A veteran retailer has been named co-chairman of Lululemon Athletica.



The retailer has appointed Glen Murphy to its board as co-chairman, effective immediately.



Murphy served as chairman and CEO of Gap Inc. from 2007 to 2014. Prior to that, he was CEO of Canadian drugstore chain Shoppers Drug Mart. Currently, Murphy is head of FIS Holdings, where he is responsible for leading the high-impact consumer-focused investment firm deploying a combination of operating guidance and capital flexibility.



At Lululemon, Murphy succeeds Michael Casey, who will remain a Lululemon director as well as chair of its compensation committee and a member of its audit committee.



On March 30, Lululemon reported disappointing first-quarter guidance.



"Glenn is a seasoned executive with global expertise and I look forward to leveraging his strategic thinking, skills and deep industry knowledge,” said Laurent Potdevin, CEO, Lululemon.