Sears will sell Kenmore appliances on Amazon, shares jump 20% >>> READ MORE

Horrible Bosses – The Worst 5 CEOs of 2013

Proof that you don't need brains or talent to become the boss

      View All  

5. Lululemon CEO Christine Day (and founder/chairman Chip Wilson)


Companies make mistakes. Luckily, most of them are forgivable. But it’s pretty tough for the public — consumers as well as investors — to forgive a mistake or two when that company then gets a bit indignant about it, ultimately blaming its customers.

Enter Christine Day — former CEO of Lululemon (LULU) — and Chip Wilson — former chairman of LULU.

In March, consumers cried foul when they realized that some Lululemon yoga pants were a tad transparent. The snafu ultimately led to a wave of bigger quality control concerns, which in turn led to the resignation of Day.

Chip Wilson made things even worse for LULU, though. Just a few months after the Lululemon CEO stepped down (sending LULU stock falling off a cliff), Wilson opined on Bloomberg TV that “quite frankly, some women’s bodies just actually don’t work for it (Lululemon pants).”

All but calling some of your customers “fat” at a point when you can afford no bad publicity at all was hardly a smart move, and Wilson announced his resignation a few days after the gaffe. Unfortunately, new management likely won’t erase the double dose of damage that both Christine Day and Chip Wilson caused Lululemon this year.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC