Frank, who joined Lululemon in 2016 as senior VP of financial planning and analysis, will become the company’s first female CFO, offering more than 20 years of experience within the retail industry.
Previously Frank held senior roles at Ross Stores and J.Crew, where she served for nearly a decade. She earned her BA from Colgate University.
Since April, she has served as interim co-CFO at Lululemon along with Alex Grieve, VP controller for the company.
As CFO, Frank will reportedly assume responsibility for the finance, tax, treasury, investor relations, asset protection, facilities, operations excellence, and strategy functions.
Calvin McDonald, CEO of Lululemon, said: “Meghan has a unique and comprehensive understanding of retail gained through her experience across finance and merchandise planning.
“Earlier this year, when we started to navigate the Covid-19 environment, Meghan confidently took on more responsibility within the company and demonstrated agility, business acumen, and natural leadership skills. I’m thrilled to be working closely with her in her new role and benefiting from her strategic insights.”
Frank said: “I’m honoured to be taking on this role and working alongside an incredibly talented leadership team.
“We continue to see many opportunities ahead for Lululemon and I’m excited to be part of the journey as we further build on our momentum and work to deliver on our strategic growth priorities.”