Lululemon Founder Chip Wilson Sells Half His Stake for $845M

Lululemon Athletica Inc. founder Chip Wilson will sell half his stake in the yogawear company to private equity firm Advent International for about $845 million. Wilson and Advent agreed to name David Mussafer and Steve Collins to the board of directors, effective as of the closing of the transaction, expanding the board to 12 members from 10, Lululemon said