Former Kmart, Gap exec named Lululemon's new chief product officer

By The Canadian Press

VANCOUVER - Lululemon Athletica Inc. has named former Kmart Apparel president Tara Poseley as its new chief product officer, a key position for the Vancouver-based fashion retailer.

Poseley will oversee global merchandising and design strategy for Lululemon (Nasdaq:LULU - News), which is working to overcome a rare misstep related to quality problems with its black Luon yoga pants.

She will work with Lululemon's design team and report directly to the company's chief executive officer, a position still held by Christine Day.

Lululemon is still searching for a new CEO after Day announced in June that she intended to step down once a successor is named.

Day's surprise announcement followed the departure of chief product officer Sheree Waterson in April after the company was forced to recall its popular Luon pants because some turned out to be see-through.

Lululemon blamed the sheerness on a style change and production problems and hired a new team to oversee the making of the pants.

Day says the appointments of Poseley as chief product officer and Jennifer Battersby as senior vice president of sourcing, has "greatly fortified" Lululemon's capabilities.

Poseley has 25 years of experience in strategic product development, merchandising and brand management and has also worked as interim president at Bebe Stores Inc. president of Disney Stores North America held a range of senior positions at Gap Inc.