Lululemon LULU is losing one of its most familiar leaders. Celeste Burgoyne, who has spent 19 years at the company and currently oversees the Americas and global guest innovation, is heading to Vail Resorts to become its EVP and chief revenue officer. She’ll stay through the end of December to help with the transition.
Her exit lands at a sensitive moment. It’s the second major leadership departure in 18 months, following Chief Product Officer Sun Choe. Analysts say losing both isn’t ideal Needham’s Tom Nikic called Burgoyne one of the key people who helped build Lululemon into the powerhouse it is today, noting that her steady presence will be missed.
To keep things on track, Lululemon is reorganizing its structure. The company is consolidating regional leadership and has appointed Andre Maestrini as President and Chief Commercial Officer, reporting directly to CEO Calvin McDonald and overseeing all stores and digital channels. The news weighed on the stock a bit, with early gains fading. Vail Resorts shares, meanwhile, inched up slightly.
