Lululemon Founder Chip Wilson Resigns From The Board

Lululemon Athletica Inc. founder Chip Wilson will step down from the company's board, the Vancouver-based company said. Wilson, who founded Lululemon in 1998, resigned as chairman of the board last year. He said he has achieved the goals he set for the company when he returned in 2013 after resigning as its chief innovation and branding officer in January 2012. He said he'll work more closely with his wife and son as they start their new clothing business, Kit & Ace. Lululemon dipped 0.5% in premarket trading.