Gap Inc. Announces Chief Financial Officer Sabrina Simmons to Depart at End of Fiscal Year
November 02 2016 - 4:15PM
Business Wire
Gap Inc. (NYSE: GPS) today announced that executive vice
president and chief financial officer Sabrina Simmons will be
leaving the company. Simmons will remain with Gap Inc. through the
end of the 2016 fiscal year, ensuring a seamless transition over
the coming months.
“Throughout her 15-year tenure, Sabrina has been one of our most
passionate and respected leaders. She was critical in establishing
Gap Inc.’s capital structure framework and maintaining operating
discipline across the enterprise, both of which have delivered
significant value to our shareholders,” said Art Peck, chief
executive officer of Gap Inc.
“Since I assumed the CEO role two years ago, Sabrina has been an
instrumental partner in helping the company transition to a new
leadership team. With that period of transition behind us, Sabrina
and I agreed that this was an appropriate time for a change in the
organization and for her to pursue the next chapter in her career.
Sabrina and I will work together to ensure an orderly transition in
the coming months. Most of all, I am grateful for her partnership
and for all that Sabrina has contributed to Gap Inc.,” Peck
added.
Simmons said, “I feel very fortunate to have spent a meaningful
part of my career at Gap Inc., and I’ll always be grateful to the
Fisher family, to my colleagues, and to my team for the
opportunities I’ve had with the company.”
Since joining Gap Inc. in 2001, Simmons has progressed through
positions of increasing responsibility from vice president and
treasurer to executive vice president. Simmons has served as the
company’s CFO since late 2007. Most recently, her responsibilities
have included all global financial functions, including corporate
and brand financial planning and analysis, treasury, risk
management, tax, investor relations, controllership, corporate
shared service centers, and internal audit, in addition to real
estate, loss prevention, and corporate facilities.
About Gap Inc.
Gap Inc. is a leading global retailer offering clothing,
accessories, and personal care products for men, women, and
children under the Gap, Banana Republic, Old Navy, Athleta, and
Intermix brands. Fiscal year 2015 net sales were $15.8 billion. Gap
Inc. products are available for purchase in more than 90 countries
worldwide through about 3,300 company-operated stores, about 450
franchise stores, and e-commerce sites. For more information,
please visit www.gapinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161102006564/en/
Gap Inc.Investor Relations Contact:Tina Romani,
415-427-5264Investor_relations@gap.comorMedia Relations
Contact:Jennifer Poppers, 415-427-1729Press@gap.com
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