Lululemon creates president and COO roles, names Gauger and Godsey as two top executives exit

Lululemon is rebuilding its top team. The athletic apparel company said Wednesday it hired Maggie Gauger as president and chief product officer and Joseph Godsey as chief operating officer, two newly created roles that take effect Oct. 26.

Two senior leaders are on the way out. Nikki Neuburger, chief brand and product activation officer, and Ted Dagnese, chief supply chain officer, will leave on Nov. 6. The company said both departures will be treated as terminations without cause under their employment agreements.

Chief Executive Heidi O'Neill said in the press release that "lululemon is a rare, extraordinary brand, but we have work to do to build a stronger and more competitive company."

Who does what

Gauger, most recently president and CEO of Athleta, will oversee design, merchandising, footwear, product innovation and materials science. The existing merchandising and design leadership will report to her.

Godsey joins from Walmart Canada, where he was chief growth officer. His remit spans sourcing and production, commercialization, go-to-market, fulfillment, planning and allocations, and sustainability.

Lululemon is also searching for a chief brand officer, a chief communications officer and a chief technology officer. Until the brand and technology roles are filled, Chief Financial Officer Meghan Frank will add interim oversight of those functions and will receive a retention equity award, the filing said. A search for a chief strategy officer reporting to Frank is also underway.

André Maestrini stays on as president and chief commercial officer.

The pay packages

Gauger's agreement sets a $1 million base salary, a bonus target of 150% of salary, a $1.9 million sign-on bonus and a one-time restricted stock grant valued at $2.8 million that vests over two years. Lululemon will also reimburse up to $500,000 she must repay her former employer.

Godsey will earn a $700,000 base salary with a 100% bonus target, a $650,000 sign-on bonus and a $2 million restricted stock grant vesting over two years.

Lululemon shares closed Wednesday's regular session at $91.88, down 1.8%. The company filed the 8-K describing the changes after the closing bell.

By the numbers

• New roles created: 2 (president and chief product officer; COO)
• Start date for both hires: Oct. 26, 2026
• Executive departures: 2, effective Nov. 6
• Open searches: chief brand, communications, technology and strategy officers
• Gauger sign-on bonus: $1.9 million; Godsey: $650,000

Sources

1. lululemon athletica inc. Form 8-K (Items 5.02, 7.01 and 9.01), filed Oct. 7, 2026, accession 0001397187-26-000131
2. lululemon press release, Exhibit 99.1, "lululemon Announces New Leadership Team Structure to Drive Next Chapter of Growth," Oct. 7, 2026

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