lululemon athletica said Chief Executive Officer Calvin McDonald will step down effective January 31, 2026, as part of a leadership transition announced in an SEC filing. Board chair Marti Morfitt will become executive chair, while Chief Financial Officer Meghan Frank and President and Chief Commercial Officer Andre Maestrini will serve as interim co-CEOs during the search for a permanent successor. The company also disclosed details of McDonald’s separation agreement, including a $3.05 million cash payment and continued vesting of certain equity awards, and confirmed that its board approved a $1.0 billion increase to the existing share repurchase program earlier in December.