Lululemon’s chief AI and technology officer has left the company.
A securities filing marked his departure date as Thursday. Ranju Das joined the retailer a little less than a year ago, with the aim of leading the company's technology organization while improving product innovation and speed. Longtime CIO Julie Averill departed the company shortly after Das' appointment as part of a planned leadership transition, the company said at the time.
“Ranju Das has left lululemon. We are grateful for his contributions and wish him well in his next chapter,” a Lululemon spokesperson said in response to questions about the executive’s exit. “We are conducting a global search for our next Technology leader and have full confidence in our current Technology teams to continue delivering on our priorities.”
The athletics retailer did not respond to questions about the reasoning behind Das’ departure or whether it was connected to the exit of Chief Strategy Officer Rachel Acheson, which Bloomberg reported earlier this week citing anonymous sources. Lululemon did not confirm Acheson’s departure to Retail Dive.
BNP Paribas Equity Research senior analyst Laurent Vasilescu commented on both departures in an analyst note Friday, saying the firm is “increasingly concerned about talent turnover” at Lululemon.
“We are concerned with the two c-suite departures considering that the new CEO Heidi O’Neill has yet to start,” Vasilescu wrote. “We anticipate that there may be more employee turnover over the coming months.”
New Lululemon chief O’Neill is set to start in September. A 30-year Nike veteran, O’Neill’s appointment was met with hesitation and disappointment from many corners, though others see her as a logical CEO choice for an athletics retailer in need of a turnaround.
Lululemon has struggled in recent years to hit the right trends, and the rise of other athleisure brands has pulled price-wary shoppers elsewhere. Even recent attempts to inject newness into the assortment have fallen short, leading the company to slash its guidance.
Lululemon’s Q1 revenue was up 4% overall in Q1, but the brand continued to see declines in the Americas, its largest region. A protracted campaign against Lululemon’s board and leadership team by founder Chip Wilson was settled in May, but dented the company’s performance in Q1.
