Christine Day, the CEO of the workout clothing giant Lululemon, announced Monday afternoon during a company earnings call that she's stepping down after a costly, offensive scandal in which her company failed to do what it does best: make workout pants that people feel comfortable in.
Lululemon's instantly notorious see-through bottoms have been replaced on shelves, but that apparently wasn't enough to save Day from the rare national athletic-gear controversy and her comments amidst it: "The truth of the matter is the only way you can actually test for the issue is to put the pants on and bend over," Day said during the company last earnings call in March. That didn't go over well, and now the company will replace her as soon as a replacement is ready. "Plans have been laid for the next five years and a vision set for the next ten. Now is the right time to bring in a CEO who will drive the next phase of Lululemon's development and growth," Day said in her statement on Monday.
In case you haven't been following this ridiculous scandal, it was discovered that some weak product review tests were letting yoga pants hit the market that were revealing things they shouldn't reveal when people were in their most vulnerable positions. The product manager got the axe, and not-see-through pants are back, but it appears Day is ultimately taking the fall. The restocking was estimated to cost around $20 million. Earnings and revenues surpassed expectations last quarter, but that wasn't enough to keep the boss around.
- Christine Day