Gap Inc. names Old Navy chief Sonia Syngal as CEO
As Gap Inc.’s new CEO, Syngal’s top priority will be strengthening the performance of the portfolio, which includes Gap, Banana Republic, Old Navy and Athleta.
“It’s an honor to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future,” said Syngal.
“I’m committed to fully realizing the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.”
Syngal has served as the CEO of Old Navy since 2016. Previously, she has held a multitude of roles with Gap Inc., including Gap Inc.'s executive vice president global supply chain and head of product operations; managing director and senior vice president, Europe; senior vice president and general manager, international and supply chain; and general manager and senior vice president international for Old Navy, among other roles. She first joined Gap Inc. in 2004.
“To lead the company into its next chapter, 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, who is the current chair of the Gap Inc. board of directors, and has served as interim Gap Inc. CEO since Art Peck was let go from the company in November 2019.
“[Syngal] has all of the characteristics and experiences needed to effectively execute against the work ahead."
Gap Inc. also announced on Thursday that board member Bobby Martin will become executive chairman, effective March 23. The company added that Elizabeth Smith, the former CEO of Bloomin’ Brands Inc., and Amy Miles, the former CEO of Regal Entertainment Group, will also join its board.
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