Dive Brief:
- Outgoing Lululemon Athletica Inc. CEO Christine Day will join packaged meals startup Luvo Inc. as its new chief executive April 1.
- The Atlanta-based start-up's meals are marketed as chef-inspired, featuring less than 500 calories each with no artificial additives or preservatives, and are sold at Target Corp.and Dominick's.
- Day, who owns about 15% of Luvo, saw Lululemon's share price increase close to three-fold since she took office as CEO in 2008, but announced she would step down last June following controversy involving a recall of too-sheer yoga pants.
Dive Insight:
Perhaps no one is better suited to lead Luvo at this point than Day, as the company's founder and president, Stephen Sidwell, himself told Businessweek. For 20 years, she led Starbucks' Asia operations, and that sort of experience in the food industry, as well as with a wellness brand like Lululemon, is invaluable in the food industry — especially as consumers become increasingly interested in the sourcing and nutrition of their food.
Luvo certainly seems to be on the rise, having named actress Jennifer Garner as a spokeswoman and New York Yankee Derek Jeter as a partner and brand development officer, so it will be interesting to see where Day's leadership takes the company when she takes office in April.