Gap CEO Sonia Syngal to step down amid weak sales
2 years, 5 months ago

Gap CEO Sonia Syngal to step down amid weak sales

Associated Press  

NEW YORK — Gap Inc. has announced that its CEO and president Sonia Syngal is stepping down from her role after two years on the job, effective immediately. The move, announced Monday, comes as the San Francisco-based clothing company, which operates stores under its namesake, Old Navy, Banana Republic and Athleta, struggles with slumping sales and supply chain challenges. Effective immediately, Bob Martin, the company’s current executive chairman and a 40-year industry veteran, will serve as Gap Inc. president and CEO on an interim basis. Gap also announced that Horacio Barbeito will join the retailer as Old Navy president and CEO on Aug. 1.

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