Gap CEO Sonia Syngal is stepping down, effective immediately


Sonia Syngal, president and chief govt officer of Previous Navy Inc., speaks through the Fortune’s Most Highly effective Ladies Summit in Washington, D.C., on Tuesday, Oct. 22, 2019.

Sarah Silbiger | Bloomberg | Getty Photos

Gap Inc. Chief Govt Officer and President Sonia Syngal is stepping down, efficient instantly, the attire retailer introduced on Monday.

She’s going to keep for a short transition interval, whereas Bob Martin, the corporate’s present govt chairman of the board, will function interim president and CEO, Hole stated.

Hole shares fell round 3% in after-hours buying and selling on the information.

Syngal stated in a press release that she is, “grateful to have the board’s assist in stepping down, ushering in a brand new alternative for contemporary perspective and rejuvenated management to hold Hole Inc. ahead.”

The retailer additionally named a brand new chief for its Previous Navy enterprise, after Nancy Inexperienced departed that put up in April. Horacio “Haio” Barbeito, extra just lately president and CEO of Walmart Canada, is anticipated to take over the Previous Navy enterprise on Aug. 1.

That is breaking information. Please test again for updates.

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