Lululemon Founder And Biggest Shareholder Chip Wilson Poses 2 Main Questions To Its Management

lululemon athletica inc. LULU founder and biggest shareholder, Chip Wilson, posted two main questions before the management through a open letter to its shareholders. According to the company, three years back, its stock was double the value of Under Armour's. However, currently, it's worth less than half.

While pointing out that Under Armour and Nike shares were up 79 percent and 45 percent, respectively, he posed two questions before the company's management. One of them was the plan to get back to its original leadership position compared to its rivals in a market where the company invented and built. He said that if the answer was yes, then he wanted to know when and what were the exact signs, metrics and signals the investors should be looking to suggest that its plan was working.

The second question was that shareholders were entitled to judge the performance of the company and the hold the board members responsible. He said that the shareholders deserved the right to vote on all the board members and would make a change. He said that he was denied permission to talk to the shareholders in the annual meeting.

Shares of the company traded 1.50 percent higher on Wednesday.