Gap announces Old Navy executive Sonia Syngal as new CEO

Photo: UPI

March 6 (UPI) — Clothing retailer Gap announced Thursday that it has named Sonia Syngal its new CEO as the company seeks to improve its performance.

Syngal currently serves as CEO of Gap’s brand Old Navy and will take on the role as chief executive of the parent company effective March 23 in addition to joining its board of directors.

“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,” Syngal said. “To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.”

Gap’s former president and CEO, Art Peck, stepped down in November as the company reported a drop in global sales during the third quarter of 2019.

The company had planned to spin off its Old Navy brand into a separate company but abandoned the plans early this year, citing poor performance and the cost of the split.


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