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Lululemon Founder Resigns

To me this is big news: Chip Wilson, the founder of Lululemon, has resigned.

I had decided to boycott Lululemon after the John Galt fiasco (luckily I didn’t learn about his admiration for Ayn Rand until after I bought my tutu).

No reason was given for the decision, but the announcement comes after widespread backlash following a controversial decision to put the Ayn Rand slogan “I am John Galt” on Lululemon shopping bags last November.

He is still chairman of the board and owns 10% of the stock. So I am still going to do my best to stay away.

UPDATE: 2/13/12 – After a compliment from my friend, cheerleader and trainer Jessica Miga on my Lululemon sweatshirt today, I shared with her the news of the founder. At the end of my rendition, she asked, “Are you
really not going to buy there any more?” I laughed and replied, I sure was going to try!