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Lululemon Athletica (LULU) Stock Falls After Chief Product Officer Departs

NEW YORK (TheStreet) -- Lululemon Athletica (LULU - Get Report) shares are declining 1.44% to $51.25 on Thursday after the yogawear retailer said that Chief Product Officer Tara Poseley is leaving the company.

Poseley was with the Vancouver-based company for two years. Lululemon said her position will be eliminated.

Overall, the company is shuffling its leadership positions amid challenges with narrowing margins and supply chains, Reuters reports.

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Along with this announcement, the company said it established a new creative director role, which will bring together the men and women's designs under the same organizational umbrella.

This new position will be filled by Lee Holman who was formerly senior VP of Women's Lululemon.

"Changes to the organizational structure, including the new role of creative director, are critical to executing upon our 10-year vision," CEO Laurent Potdevin stated.

Separately, TheStreet...