Lululemon Athletica has reached a deal with founder Chip Wilson, ending his proxy fight and granting the company at least 18 months of stability. Under the agreement, Wilson will drop his challenge and abide by standstill, non-disparagement, and voting provisions. Lululemon will add three new board members: former ESPN CMO Laura Gentile, ex-On Holding co-CEO Marc Maurer — both joining after the June 25 annual meeting — and a third director with product expertise by October. Wilson, who owns roughly 8.7% of Lululemon, said the additions reflect meaningful progress. Shares rose 2.9% to $131.04 on the news.

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