Kmart exec heads to Lululemon

Tara Poseley, the former president of Sears Holdings Corp's Kmart apparel division, has been tapped by Lululemon Athletica Inc as the company's new chief product officer.

In her new role, Poseley will lead the company's merchandising and design team. She will replace former CPO Sheree Waterson, who left in April. Following her departure, the company split the role into two jobs; Jennifer Battersby was recently hired to fill the other position of SVP sourcing.

Poseley has 25 years of industry experience, 15 years of which she spent at Gap Inc. prior to her role with Kmart. She has also worked in various leadership capacities at Bebe Stores Inc., Disney Stores North America and Design Within Reach.

Lululemon, which is in the process of restructuring its management team after a costly and embarrassing recall of overly sheer yoga pants this year, is still on the prowl for a new CEO. Current CEO Christine Day is remaining in place until a replacement is found.