News emerged that Lululemon Athletica. CEO Laurent Potdevin resigned because of behavior that fell short of the company’s standard. So, who is Laurent Potdevin and how much is her worth? Check out some facts about him.
Laurent Potdevin Wiki
Laurent Potdevin who is now 50 years old, graduated from Ecole Polytechnique Federale de Lausanne in 1990 with Masters in Engineering. He then graduated with MBA in finance and Marketing in 1991 from ESSEC Business School.
Potdevin started his career in 1991 working at Louis Vuitton, a company which manufactures and sells products like jewelry, handbags, perfumes, cosmetics and many more. He then worked for Burton Snowboards where he held number of positions for 15 years including CEO from 2005 to 2010.
Under his leadership, Burton Snowboards’ business grew significantly expanding globally and providing the best consumer experience. After that, he became the President of TOMS shoes. TOMS is a charity based shoe company that donates a pair of new shoes to less-fortunate child when a customer purchases a new pair of shoes. In 2014, he left TOMS to work for Lululemon.
Potdevin became CEO of Lulelemon in 2014- the company who makes variety of athletic wear, including performance shirts, shorts, pants, as well as lifestyle apparel and yoga accessories. Under his leadership, Lululemon began to expand its product internationally in both store fronts and through online platforms.
Why did he resign?
Exact detail on why Potdevin resigned is not yet flashed out yet. The company also did not explain the nature of the conduct that led to his departure but suggested in an announcement that it had something to do with how he dealt with employees.
Statement published by the company said: “Lululemon expects all employees to exemplify the highest levels of integrity and respect for one another, and Mr. Potdevin fell short of these standards of conduct.”
Laurent Potdevon Net Worth:
According to Washingtonpost, Potdevin will receive a total payment of $5 million following his departure. He will be paid $3.5 million upfront and $1.65 million over 1.5 years in a monthly installment. However, his actual net worth is unavailable to us. Considering his career and success in every company, his net worth might be somewhat around $20-$30 million.