Lululemon names Meghan Frank as new Chief Financial Officer
Activewear and lifestyle brand Lululemon has announced the immediate promotion of Meghan Frank to Chief Financial Officer, becoming the company’s first female CFO.
As CFO, Frank will assume responsibility for the finance, tax, treasury, investor relations, asset protection, facilities, operations excellence, and strategy functions.
With more than 20 years of experience within the retail industry, she joined lululemon in 2016 as Senior Vice President of Financial Planning and Analysis and, since April, has served as interim co-CFO, along with Alex Grieve, Vice President, Controller for the company.
Previously, Frank has held senior roles at Ross Stores and J.Crew, where she served for nearly a decade.
Calvin McDonald, CEO of lululemon, said: “Meghan has a unique and comprehensive understanding of retail gained through her experience across finance and merchandise planning. Earlier this year, when we started to navigate the COVID-19 environment, Meghan confidently took on more responsibility within the company and demonstrated agility, business acumen, and natural leadership skills. I’m thrilled to be working closely with her in her new role and benefiting from her strategic insights.”
Meghan Frank added: “I’m honoured to be taking on this role and working alongside an incredibly talented leadership team. We continue to see many opportunities ahead for lululemon and I’m excited to be part of the journey as we further build on our momentum and work to deliver on our strategic growth priorities.”
Earlier this year, lululemon announced a cut to senior leadership team salaries of 20% for the next three months amid the COVID-19 outbreak.