UPDATE: On Dec. 9, 2013, lululemon announced that founder Chip Wilson will step down as board chairman before an annual meeting in June 2014. Laurent Potdevin, formerly president of TOMS, will become CEO, replacing retiring chief Christine Day. Wilson's board chairmanship will be given to senior board director Michael Casey. According to Bloomberg, some felt Wilson's ongoing role in the company had hampered the CEO search. "Chip was viewed as a liability," analyst Anna Andreeva told the news service, "and I think that turned off a couple of potential CEO hires."