NEW YORK ( TheStreet) -- The surprise departure of Lululemon's (LULU - Get Report) CEO Christine Day on Monday has the industry buzzing. But who will take the reins of the Vancouver-based athletic apparel company?
Lululemon's first order of business is, of course, determining what kind of leader it needs. The company is looking to expand its global presence, specifically in Asia.
But the challenge for lululemon is so much more than just filling the position with any high-level executive.
"Investors are going to expect the high level of growth to continue," says Marshal Cohen, chief industry analyst at NPD.In lululemon's case, this means that the new CEO must have a good understanding of a "lifestyle" company, but also know how to create product and have financial acuity, he says. Lululemon is in a competitive arena "where price makes a difference," Cohen says. The new leader will have to reinforce that lululemon apparel is worth the money it costs. "It's going to make their product really