Lululemon, Chip Wilson settle feud

The retailer, which called its founder’s perspective “outdated,” had offered to elect two of his nominees, part of a settlement he rejected.

The brand says it wants to avoid a proxy fight but that Wilson “declined to engage further” after nominating three people to its board.

The appointment is a “key acquiescence” to the demands of founder Chip Wilson, though he called the decision “underwhelming.”

Chip Wilson alleged the board and Calvin McDonald oversaw years of value destruction of the brand, though most analysts praised McDonald’s tenure.

The Roomba-maker’s largest Chinese manufacturer has agreed to acquire the company via a Chapter 11 restructuring.