Lululemon founder Chip Wilson nominates three board members

(Sharecast News) - Lululemon Athletica founder Chip Wilson said on Monday that he has nominated three director candidates for election to the company's board at the annual general meeting next year, as he launches a proxy fight to overhaul the board.

Confirming an earlier report by the Wall Street Journal, Wilson said he has nominated former On Holding co-CEO Marc Maurer, former ESPN chief marketing officer Laura Gentile and former Activision CEO Eric Hirshberg.

According to the WSJ, Wilson isn't trying to put himself back on the board. He remains Lululemon's second-biggest shareholder, with a nearly 9% stake, according to FactSet. Vanguard is the largest shareholder.

The WSJ said Wilson is pushing for changes to the board while the company searches for a new chief executive officer.