Gap Inc. Appoints New Chief Growth Officer and New President and CEO of Banana Republic
November 24 2020 - 4:05PM
Business Wire
Asheesh Saksena and Sandra Stangl will join
Gap Inc. as Company Pivots to Growth
Gap Inc. (NYSE: GPS) today announced that Asheesh Saksena will
join the Gap Inc. Senior Leadership Team as Chief Growth Officer, a
newly created position that will focus on executing the company’s
strategic agenda, as well as leading growth initiatives for the
future. In addition, the company also announced that Sandra Stangl
will join Gap Inc. as the new President and CEO of Banana Republic,
as the brand redefines affordable luxury.
“Gap Inc. has significant opportunity to grow our purpose-led,
billion-dollar lifestyle brands through the power of our platform,
sophisticated end-to-end capabilities and by harnessing the
advantages that come with operating a portfolio that targets 80
percent of the addressable apparel market,” said Sonia Syngal, CEO
of Gap Inc. “With the addition of Asheesh and Sandra, two strong
industry veterans and proven creators, I have even greater
confidence in our ability to deliver against our Power Plan 2023 as
we steer the company into the future."
Asheesh Saksena most recently served as President of Best Buy
Health where he led the formation and operation of the brand’s
strategic diversification into Digital Health after serving as the
company’s Chief Strategic Growth Officer. During his time with Best
Buy, he helped expand the company’s addressable market and
incubated new platforms for growth. Prior to his time at Best Buy,
he led strategy and growth organizations at Cox Communications,
Time Warner Cable, and as Partner at Accenture. He will join Gap
Inc. in January 2021, and upon arrival will assess value creation
opportunities to ensure consistent growth across the company.
Sandra Stangl is a strong creative leader known for delivering
design vision, brand expansions and financial results. During her
23 years at Williams Sonoma, she held numerous leadership positions
including President, Pottery Barn Brands and launched two iconic
brands - Pottery Barn Kids and Pottery Barn Teen. Stangl was
President, Chief Merchandising & New Business Development
Officer for Restoration Hardware where she led new assortment,
inventory and quality strategies enhancing the customer experience.
Most recently, she cofounded and was the Chief Merchant of MINE, a
disruptive pure-play home business. Stangl will bring the agility
and strategic orientation of a tenured retail executive and
entrepreneurial leadership to Banana Republic when she joins in
December 2020.
About Gap Inc.
Gap Inc., a collection of purpose-led, billion-dollar lifestyle
brands, is a leading global retailer offering clothing,
accessories, and personal care products for men, women, and
children under the Old Navy, Gap, Banana Republic, Athleta,
Intermix, Janie and Jack, and Hill City brands. Fiscal year 2019
net sales were $16.4 billion. Gap Inc. products are available for
purchase worldwide through company-operated stores, franchise
stores, and e-commerce sites. For more information, please visit
www.gapinc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201124005379/en/
Gap Inc. Media Contact: Sandy Goldberg press@gap.com
Gap Inc. Investor Contact: Steve Austenfeld
Steve_austenfeld@gap.com
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