Yoga-wear maker Lululemon's CEO Christine Day has abruptly announced her departure from the firm, surprising analysts and spooking investors. Day—who has presided over soaring growth in her five years at the firm—told the board she was tired of working 18- to 20-hour days and she would prefer to step aside instead of spending the next few years traveling extensively to oversee Lululemon's international expansion, insiders tell the Wall Street Journal.
"This was a personal decision of mine," Day, 51, said in a conference call with reporters. "It's never a perfect time to leave a company you love." The announcement sent the company's shares tumbling 14% in late trading yesterday. Lululemon says the decision is "entirely Christine's" and is unconnected to the see-through yoga pants debacle that embarrassed the firm and cost it tens of millions of dollars in sales earlier this year, CNN reports.