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To be sure, Gap enters the second half of the year in chaos mode and in bad need of a leader to take charge. Last week, Gap fired CEO Sonia Syngal after another quarterly sales warning — its ...
Gap CEO Sonia Syngal to leave company, stock moves down. July 11, 2022 at 4:59 PM ...
Gap's shares were down 21% under Syngal's CEO tenure compared to a 43% rise in the S&P 500. No permanent CEO at the Gap yet. Likely inventory bulge exiting the lackluster second quarter of sales.
[12] [13] During his time at Gap Inc. he had worked alongside Steve Jobs, who was a board member of Gap Inc. at the time and a friend of Drexler. [ 14 ] On May 22, 2002, however due to a sales slump and ballooning debt, plus his management style which clashed with the Fisher family, Drexler was abruptly forced to announce his retirement by Gap ...
Gap's stock is up 30% in the past year, compared to a 23% gain for the S&P 500. "The turnaround is gaining momentum across all brands," said Barclays analyst Adrienne Yih .
Within retail, these departures come after two years of relative stability for the industry.
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The news comes shortly after another major executive shift for the company in April, when Nancy Green stepped down from her role as president and CEO of Old Navy. Gap Inc. CEO Sonia Syngal to Step ...