By Waverly Colville

Lululemon Athletica Inc. has appointed Calvin McDonald to serve as its next chief executive officer, tapping a top executive of beauty company Sephora to lead the athletic-wear maker.

Lululemon said Tuesday that Mr. McDonald's appointment is effective Aug. 20.

Mr. McDonald has been the president and CEO of the Americas for Sephora, owned by French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton, since 2013. Under his leadership, Sephora delivered double-digit growth for several years, expanded its products and created new online and in-store experiences, Lululemon said in a press release. In prepared remarks Lululemon Chairman Glenn Murphy called Mr. McDonald "the ideal match" for the brand.

The athletic-wear company's former CEO Laurent Potdevin abruptly resigned in February after the company said he engaged in behavior that failed to meet the company's standards. Mr. Potdevin had served as CEO since January 2014.

Shares in Lululemon rose 0.8% in after-hours trading Tuesday.

(END) Dow Jones Newswires

July 24, 2018 17:55 ET (21:55 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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