Lululemon Poaches Athleta CEO as New Chief Product Officer

Lululemon announced Wednesday that Maggie Gauger, formerly chief executive of rival athletic apparel brand Athleta, has joined the company as its chief product officer, according to CNBC.

The chief product officer position is a newly created role at Lululemon, suggesting the company is placing added emphasis on product strategy and development as it navigates a competitive athletic and athleisure apparel market. Specific details on Gauger's mandate or reporting structure within the company were not fully outlined in the announcement.

Gauger previously led Athleta, the activewear brand owned by Gap Inc., before moving to Lululemon. Her appointment represents a notable executive move between two companies that compete directly in the women's athletic apparel segment.

Lululemon has built its business around premium-priced athletic and leisure wear, and the company has faced increasing competition in recent years from both established retailers and newer direct-to-consumer brands targeting similar customers. Executive hires with direct experience at competing brands are relatively common in the retail and apparel sector as companies look to bring in fresh perspective on product design, merchandising and brand positioning.

Lululemon did not immediately disclose additional details about compensation or the specific product priorities Gauger will oversee in her new role. The company's next steps regarding product strategy under her leadership were not detailed in the announcement.