Where does Sonia Syngal’s exit leave Gap?

Retail Dive

Gap Inc. didn’t take long to replace Old Navy brand chief Nancy Green, who left unexpectedly in the spring after a series of supply chain and merchandising mishaps. But Monday’s announcement that former Walmart Canada CEO Horacio Barbeito will be arriving in a couple of weeks to take the reins at the value brand was overshadowed by the simultaneous, surprise report that Gap Inc. CEO Sonia Syngal is also leaving.

“Having just filled a sizable hole in its senior leadership team, Gap Inc. is now in the market once again, searching for a new CEO to help turn the business around,” Telsey Advisory Group analysts led by Dana Telsey said in emailed comments, noting “choppy performances across brands, uncertainties in leadership and direction, and a lack of visibility to stabilization with a clear plan for recovery.”

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