Lululemon Names Sephora Executive as New CEO

Lululemon LULU 1.80% Athletica Inc has appointed Calvin McDonald to serve as its next chief executive officer, tapping a top executive of beauty company Sephora to lead the athletic-wear maker Lululemon said Tuesday that Mr.

McDonald's appointment is effective Aug 20 Mr.

McDonald, 46 years old, has been the president and CEO of the Americas for Sephora, owned by French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton , LVMUY 0.19% since 2013 Under his leadership, Sephora delivered sales growth, expanded its products and created new online and in-store experiences, Lululemon said in a press release Mr.

McDonald, a Canadian, also served as CEO of Sears Canada and worked at Canada's largest retailer, Loblaw Cos., for 17 years Lululemon Executive Chairman Glenn Murphy called Mr McDonald "The ideal match" for the brand.

Shares in Lululemon rose 0.8% in after-hours trading Tuesday. . Source