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And a Treasury offering last month saw the highest demand ever in the history of 30-year auctions, led by overseas buyers.
There’s even a name for it, “post-founder syndrome,” in which executives who built highly successful companies criticize successors’ perceived stumbles with an “only I can do this properly” attitude. (See: the founders of Starbucks, Papa John’s Pizza, and Nike.) In his Wall Street Journal ad last autumn, Wilson delivered a rather self-aggrandizing disquisition on why Lululemon had drifted: “A company bereft of a visionary loses its singular voice for product and long term strategy,” he intoned.