Is Lululemon Board Member Rhoda Pitcher for Real?

Lululemon has been under fire in recent years for issues with its clothing. The company recalled about 318,000 drawstrings from its hoodies and jackets as well as a line of see-through yoga pants. Since Dec. 10, 2013, the same month the current management team was appointed by the board, shares of Under Armour (UA) have increased 76%, and Nike (NKE) by 39%. The S&P 500 is up 16%. Lululemon shares have increased 5% in that time. “If the company is being run so poorly … then you have to go after not the CEO [Laurent Potdevin], but you have to go after the board, because the board is actually nominating the CEO,” Wilson told Jim Cramer on CNBC’s “Squawk on the Street” Wednesday. When Cramer pushed Wilson to reveal which board members stand in the way, he replied, “It’s the long-standing board members.” In Wilson’s open letter to the shareholders in June, he said Lululemon has “dramatically under-performed the market and its peers.”

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