Lululemon Athletica's Wilson Resigns From 'A Kind Of Prison'

Lululemon Athletica Inc.'s LULU founder Dennis J. Wilson resigned from the company's board saying the company has "returned to its core values." Shares of the Vancouver-based apparel company changed hands recently at $64.99, down nearly 2 percent. Wilson, who told the New York Times recently that "I feel like I've been in a kind of prison," stepped down as Lululemon's chairman last year following the recall of some of the company's signature yoga pants and an ensuing public relations snafu. http://www.nytimes.com/2015/02/08/magazine/lululemons-guru-is-moving-on.html Wilson, who remained a board member, threaten a proxy fight for control of the company. The dispute with the board was settled in August when Wilson agreed to sell half his stake in Lululemon for $845 million to private-equity firm Advent International. The company agreed in return to name two new board members and review its governance practices. Saying he's achieved his goals Wilson added that “after careful thought, I believe that now is the right time to step away from the board.” Wilson, who according to the Times is enamored with the writings of Ayn Rand and the motivational seminars of the Landmark Foundation, said he will now turn his attention to his family's new clothing business called Kit & Ace, while investing in Vancouver real estate.