Lululemon's CEO has suddenly resigned - and the company is calling him out for poor conduct

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• Lululemon CEO Laurent Potdevin has resigned effective immediately.
• Lululmeon released a statement suggesting that Potdevin engaged in poor conduct.

Lululemon CEO Laurent Potdevin has resigned as chief executive and a member of the company's board effective immediately, Lululemon said Monday.

"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," the company said in a statement.

Lululemon did not elaborate further on the reasons for his resignation.

"While this was a difficult and considered decision, the board thanks Laurent for his work in strengthening the company and positioning it for the future," Lululemon executive chairman Glenn Murphy said in a statement. "Culture is at the core of lululemon, and it is the responsibility of leaders to set the right tone in our organization. Protecting the organization's culture is one of the board's most important duties."

Potdevin assumed the role of CEO in January 2014.

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