Last month, an analyst at Sterne Agee singled out Chip Wilson in a note he wrote to clients about Lululemon. He said the company risked losing current and future customers because of recent controversy. "We believe that the core Lululemon customer has been alienated and will begin to look for yoga and active-wear pants from the likes of Nike, Under Armour, Athleta and numerous other brands," analyst Sam Poser wrote, before downgrading the company's stock. Wilson has been chairman and the largest individual shareholder of Lululemon since he founded the Canadian company in 1998 after drawing inspiration from a yoga class. He will formally step down as chairman before the company's annual meeting in June, but will retain a board seat. Ian Sager contributed reporting to this story.