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Article Date: January 2020
Word Count: 234

Gap Calls Off Old Navy Spin

GPS’ Old Navy banner will remain part of the company, it announced, citing the cost and complexity of the spin off, especially in light of softer business performance in the past year. Neil Fiske will step down as president and CEO of its Gap brand, and Banana Republic president and CEO Mark Breitbard will add the Gap banner to his responsibilities and will also oversee Banana Republic and Athleta. Sonia Syngal, who would have been president and CEO of a separated Old Navy, will continue to lead the banner within Gap Inc. Interim CEO Robert Fisher is still at the ... Log in to view full article.


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