Lululemon Athletica founder and chairman Chip Wilson has decided to step down as the Canadian sportswear brand named Laurent Potdevin as its new CEO.

Wilson will step down prior to the company's annual general meeting in June. He will be replaced by lead director of the board, Michael Casey.

Meanwhile, Potdevin will succeed Christine Day, who announced her intention to exit the company in June. He is expected to step into his new role in January 2014, while Day will remain with Lululemon through the end of its fiscal year.

Casey said: "We believe Lululemon will benefit from Laurent's leadership experience and proven track record of success in building global brands."

With more than 20 years of experience at premium, technical athletic apparel, and lifestyle-centric retail companies, Potdevin most recently served as president of Toms Shoes. Prior to that, he held various positions at Burton Snowboards, including president and CEO after starting his career at luxury conglomerate LVMH.

"Additionally, his deep understanding of the importance of top-quality technical design, retail marketing strategies, and the power of building a strong brand provides him with the tools we believe are necessary to lead our next exciting phase of growth," Casey added. 

Last month, Lululemon, which was forced to pull a line of black Luon trousers from its stores after the fabric was found to be see-through earlier this year, faced fresh complaints about the quality of its products.

Following this, Wilson was criticised for suggesting Lululemon yoga pants do not work for some bodies, and that piling can occur from rubbing at the thighs. 

In September, the company lowered its full-year earnings and revenue forecasts after second quarter profit slipped 1.3% to US$56.5m on issues around sheerness in its black Luon leggings.