Gap Inc. Announces Departure of Gap Brand President
February 20 2018 - 08:30AM
Business Wire
Gap Inc. (NYSE: GPS) today announced that Jeff Kirwan,
president and CEO of Gap brand, will leave the company.
"Under Jeff's leadership we made significant progress on the
operating model of Gap brand. We are faster and more responsive
than ever before, we radically improved quality and fit, and we
centered the brand on the aesthetic that our customers love:
casual, optimistic and American. We have also seen the results of
exceptional marketing and customer engagement reflected in
increased traffic, improved sales and the strength of the digital
business," said Art Peck, chief executive officer of Gap Inc.
"While I am pleased with our progress in brand health and
product quality, we have not achieved the operational excellence
and accelerated profit growth that we know is possible at Gap
brand. As we move into the brand's next phase of development, Jeff
and I agreed it was an appropriate time for a change in
leadership," Peck continued.
A search is underway for a new president of Gap brand. In the
interim, Brent Hyder, current Gap Inc. EVP, Global Talent and
Sustainability will oversee the brand. Prior to his current role,
Hyder served as Chief Operating Officer at Gap brand. He also
served as Vice President and General Manager of Gap Japan K.K.,
leading all aspects of the Gap Inc. business in Japan.
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,
Intermix, and Weddington Way brands. Fiscal year 2016 net sales
were $15.5 billion. Gap Inc. products are available for purchase in
more than 90 countries worldwide through about 3,200
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/20180220005874/en/
Gap Inc.Media Relations Contact:Trina Somera,
415-427-3145Press@gap.comorInvestor Relations Contact:Tina
Romani, 415-427-5264Investor_relations@gap.com
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