Lululemon Athletica's shares experienced a significant decline of 12% in early trading on Thursday following the announcement of Heidi O'Neill as the new CEO. O'Neill, previously the president of consumer, product, and brand at Nike, is stepping into the role amid concerns from analysts regarding her capability to steer Lululemon through its current challenges, which include market share losses and product recalls. The company's stock has plummeted 38% over the past year, resulting in a market value of $18.8 billion. Analysts from BTIG and BNP Paribas have criticized the choice of O'Neill, suggesting that a turnaround-focused leader, such as Jane Nielsen, would have been a better fit for the struggling athletic apparel maker. Lululemon's founder, Chip Wilson, who holds a 4.3% stake in the company, has also expressed dissatisfaction with the board's decision-making process regarding the CEO appointment. As O'Neill will not officially take charge until September, analysts predict continued volatility for Lululemon's stock in the near term.