Lululemon founder to leave board, keep stake in yogawear chain

Wilson, a sometimes controversial figure who helped build the Canadian company into an international success story, said the move will also allow him to focus on Kit and Ace, a casual wear company that his wife and son launched last year. Lululemon's stock has surged some 75 percent since its June low after boardroom battles and disappointing results. Wilson, who founded Lululemon in 1998, withdrew from day-to-day management in early 2012, and said in December 2013 he was stepping down as chairman. Wilson had returned to take a more active role in operations in spring 2013, after Lululemon issued a high-profile recall of its signature yoga pants following complaints they were too see-through.

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