Lululemon shareholders back board slate after truce with founder

Lululemon shareholders have voted to elect the company's board of directors, signaling a truce between the athletic apparel company and its founder, Chip Wilson. The vote resulted in the election of three directors backed by the company's management. Among these is Chip Bergh, who previously served as the chief executive of Levi Strauss. Additionally, two independent directors nominated by Chip Wilson were also appointed to the board. This brings the total number of members on the Lululemon board to 11. The resolution of this board composition dispute follows a period of public disagreement and negotiation between Lululemon's current leadership and its founder.