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Lululemon exec out after pants recall

Vancouver, British Columbia -- Lululemon Athletica Inc. said that chief product officer Sheree Waterson will be leaving Lululemon effective April 15, in what it described as a “leadership change in the product organization.”

The news comes just weeks after the specialty retailer had to recall its signature Luon-fabric yoga pants from store shelves for being too sheer. The company warned that the move could lead to shortages and dent its profit by up to $40 million this fiscal year.

Waterson joined Lululemon in 2008 and has over 25 years of consumer and retail industry experience.