Lululemon Names Former Nike Executive O’Neill Its Next CEO (3)

Lululemon Athletica Inc. named Heidi O’Neill its new chief executive officer as the athletic retailer looks to move beyond a turbulent period of slowing growth and investor unrest.

O’Neill, who previously spent nearly three decades at sneaker giant Nike Inc., will start on Sept. 8, with Lululemon’s interim leaders, Meghan Frank and André Maestrini, returning to their previous roles, board chairman Marti Morfitt said in a letter seen by Bloomberg on Wednesday.

Once considered a candidate for the top job at Nike, O’Neill is faced with the task of trying to drive growth at a company that is losing ...