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Recently, Lululemon Athletica, the popular athletic apparel retailer, faced a setback as its shares slipped by 2.5% in extended trading, reaching $315. The company announced the resignation of Chief Product Officer Sun Choe, who is set to leave later this month for a new opportunity. Interestingly, Lululemon has decided not to fill the vacant position of the chief product officer but instead plans to form a new team comprising leaders from its merchandising and brand functions to enhance its global and regional strategies.

In a strategic move, Lululemon appointed Chief Brand Officer Nikki Neuburger as the chief brand & product activation officer. Neuburger will now oversee merchandising, footwear, and product operations in addition to her current role. The company is gearing up to release its Q1 results on June 5, while its stock has experienced a 37% decline year-to-date.

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