Aggressive investor Elliott has already held stocks worth over $1 billion in Lululemon and strongly advocated for a former Ralph Lauren executive to be appointed as CEO.

According to sources, the aggressive investment firm Elliott Investment Management has accumulated over $1 billion in shares of Lululemon. At the same time, they are recommending a potential CEO candidate for the struggling athletic apparel retailer, which is in desperate need of a turnaround. With this stake, Elliott Investment Management has become one of the largest investors in Lululemon, which currently has a market value of approximately $25 billion. Lululemon is currently going through a turbulent period, as last week they announced that CEO Calvin McDonald will step down in January next year. The company is facing multiple pressures, from product quality issues to a series of decision-making mistakes leading to a "fading brand appeal." Sources say that Elliott Investment Management is closely working with veteran retail industry executive Jan Nielsen, who previously served as CFO and COO of Ralph Lauren, and is considered a potential candidate for the CEO position at Lululemon by Elliott.