Gap names Old Navy leader as new CEO
Sonia Syngal will relieve CEO Robert J. Fisher, who occupied the position on an interim basis since the exit of Art Peck.
Gap rearms its helm. The American group, fourth-largest fashion retailer in the world, has named Sonia Syngal as its new CEO. Syngal chief executive officer of Old Navy since 2016, leading the expansion of the best-performing brand in the group.
The executive will relieve Robert J. Fisher, who occupied the position on an interim basis since the exit of Art Peck last September. Her appointment will be effective from March 23. Syngal will also be joining the group’s board of directors.
“We sought a dynamic leader who could bring a deep respect for our customers and make the decisions necessary to deliver value from our portfolio of brands over the long term,” said Bob Fisher, the current interim CEO.
Sonia Syngal joined Gap in 2004 and since 2016 she has lead Old Nayv
With Syngal at the helm of Old Navy, it increased its sales from 7 billion dollars to 8 billion dollars in three years and expanded its presence to more than 1,200 stores in North America. Syngal joined Gap in 2004 deriving from other large corporations such as Sun Microsystems and Ford.
Before taking the reigns of Old Navy, Syngal was responsible of the company’s business in Europe and executive vice president for the supply chain, among other managing roles. Given the good evolution of Old Navy, the former CEO of gap, Art Peck, proposed splitting the chain into two new listed companies. However, the project was cancelled earlier this year.
On the other hand, Bobby Martin will be appointed executive chairman, also effective from March 21. The executive was CEO of Walmart, director of Dillard’s and formed part of Gap’s board of directors since 2002.
The group also incorporated two other members to its board of directors: Elizabeth Smiths, former CEO of Bloomin’ Brands, and Amy Miles, who served as CEO of Regal Entertainment.
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