Ranju Das
lululemon athleticaAbout Ranju Das
Ranju Das is lululemon’s first Chief AI & Technology Officer, appointed effective September 2, 2025, reporting to CEO Calvin McDonald; he brings 20+ years of experience leading AI-first transformations across healthcare, fintech, and consumer tech, with prior leadership roles at Swan AI Studios (founder/CEO), OptumLabs (CEO), Amazon (GM, AI Services; ~8 years), and 12 years in engineering/leadership at Barnes & Noble; he holds a B.S. in Civil & Structural Engineering from Annamalai University . In fiscal 2024, lululemon delivered net revenue up 10% to $10.6B, gross profit up 12% to $6.3B, and operating income up 17% to $2.5B; the 2022 PSU cycle paid 200% based on a three-year operating income CAGR of 22.2% (threshold 5%, target 10%, max 15%) . Management has created the new AI & Technology Officer role to accelerate product innovation, speed-to-market, and personalization; Das’s remit was highlighted on the Q2 2026 earnings call .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Swan AI Studios | Founder & CEO | Not disclosed | Led development of AI platforms and applications across industries |
| OptumLabs (UnitedHealth Group R&D) | CEO | Not disclosed | Drove transformative AI and data-driven initiatives across healthcare/insurance verticals |
| Amazon | GM, Amazon AI Services | ~8 years | Built and scaled key AI offerings; enterprise AI services leadership |
| Barnes & Noble | Engineering & leadership roles | 12 years | Scaled systems; foundational engineering leadership at a major retailer |
| Various startups | Co-founder | Not disclosed | Multiple startups co‑founded; AI-first innovation track record |
External Roles
- No public company directorships disclosed in company press materials for Das .
Fixed Compensation
- Not disclosed for Ranju Das in the 2025 DEF 14A; his appointment post fiscal year-end means details should appear in the next proxy cycle .
- Company design context: 2024 base salaries for NEOs ranged from $780K–$1.35M; CEO at $1.35M (illustrative of scale, not specific to Das) .
Performance Compensation
Annual Incentive Plan (AIP) – Company Design
| Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|
| Operating Income | 50% | Not disclosed | Not disclosed | 80.9% of target aggregate outcome |
| Net Revenue | 50% | Not disclosed | Not disclosed | 80.9% of target aggregate outcome |
Long-term Incentives – Company Design
| Instrument | Metric | Vesting | Payout Range | Key Terms |
|---|---|---|---|---|
| PSUs (2022 cycle) | 3-year Operating Income CAGR (baseline: FY2021 adj. OI $1,374.7M) | Cliff vest at 3 years | 0–200% | Threshold 5%, target 10%, max 15%; outcome: $2,505.7M OI in 2024 → 22.2% CAGR → 200% payout |
| PSUs (ongoing cycles) | 3-year Operating Income vs baseline | Cliff vest at 3 years | 0–200% | Cycles: FY2023–2025 baseline $1,789.1M (adj. OI); FY2024–2026 baseline $2,230.9M; FY2025–2027 baseline $2,505.7M |
| Stock Options | Share price appreciation | 25% per year over 4 years | N/A | Grant price at market; 7-year expiration |
| RSUs | Time-based retention | 33%/33%/34% over 3 years | N/A | Time-vest; settles in shares |
Company program features: pay-for-performance emphasis; clawbacks; double-trigger vesting on change-in-control for PSUs/RSUs; no option repricing; hedging/pledging prohibited .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 5x base salary; other Section 16 executive officers 3x base salary; compliance within 5 years; must retain at least 75% of net shares from vesting/exercise until meeting threshold; unvested PSUs/RSUs and options do not count toward compliance .
- Hedging and pledging of company stock prohibited under insider trading policy; trading restricted to open windows or 10b5‑1 plans with pre‑clearance .
- Das’s individual ownership (shares/RSUs/options), Form 4 activity, and 10b5‑1 plans were not disclosed in the 2025 proxy; expect future filings post‑appointment .
Employment Terms
- Employment agreements allow termination at any time, with severance payable upon termination without cause; severance rights contingent on non‑compete, non‑solicit, non‑disparagement, and release requirements; no change‑in‑control cash gross‑ups .
- Equity treatment on termination/change‑in‑control (standard award agreements):
- Options: for cause expire; otherwise exercisable windows; 7‑year term .
- PSUs: forfeiture on voluntary term; pro‑rata vesting near period end on involuntary no‑cause; death/disability 100% of target; change‑in‑control double‑trigger or if not assumed/substituted .
- RSUs: immediate vesting on death/disability; pro‑rata continuation in retirement for 12 months; double‑trigger vesting on change‑in‑control or if not assumed/substituted .
- Clawback: recovery of erroneously awarded incentive compensation following an accounting restatement, from prior/future incentive payouts or cancellation/offsets; applies to Section 16 officers .
Investment Implications
- Strategic leverage: Das’s mandate targets AI-enabled product innovation, faster go‑to‑market, and guest personalization—areas explicitly flagged by management to re-accelerate U.S. performance and strengthen global momentum; near-term operational focus with most meaningful impact expected beginning in 2026 .
- Pay-for-performance alignment: lululemon’s executive comp skews to PSUs/options with explicit operating income CAGR targets and double‑trigger protections; clawbacks and anti‑hedging/pledging policies further align incentives with long-term TSR, mitigating misalignment risk .
- Retention/transition risk: CIO Julie Averill’s planned departure coincides with Das’s appointment, suggesting a deliberate leadership transition; governance signals include strong Say‑on‑Pay (93% in 2024) and robust committee oversight (WTW as independent consultant) .
- Trading signals to monitor: upcoming Form 4 filings for initial equity grants and any 10b5‑1 plans; PSU/RSU calendars (3-year/3-year schedules) imply periodic vesting but anti‑pledging and retention requirements limit discretionary sales before guideline compliance .