Gap Inc. CEO to Step Down; Old Navy Names New President/CEO

San Francisco — Gap Inc.’s president and chief executive officer, Sonia Syngal, will step down from her position and from the company’s board, departing the company following a brief transition. In other executive leadership news, Horacio (“Haio”) Barbeito will serve as president and CEO of Old Navy.

Effective immediately, Bob Martin, the company’s current executive chairman of the board, will serve as Gap Inc. president and CEO on an interim basis. Mayo Shattuck will continue to serve as lead independent director.

“Leading this great company since 2020, through unprecedented challenges for our industry, and society, has been an immense honor,” says Syngal. “With an exceptional and industry-leading CEO for Old Navy now appointed, I am thankful to have the board’s support in stepping down, ushering in a new opportunity for fresh perspective and rejuvenated leadership to carry Gap Inc. forward.”

Martin is a 40-year industry veteran with extensive retail experience at corporations including Dillard’s Inc. and Walmart where he served as CEO of its International division. He has served on the Gap Inc. board since 2002, as lead independent director from 2003 to 2015, and as executive chairman since 2020.

Barbeito will join the Gap Inc. leadership team on August 1 as president and CEO of Old Navy. He joins the company from Walmart Canada.

“Haio is a true multi-disciplined retail leader who shares our vision of bringing the democracy of style and service to millions of Old Navy customers, leveraging our greatest assets — our people and our product. We are thrilled for Haio to bring his authentic leadership style to the team, backed by a strong track record of delivering growth through challenging times at complex global organizations,” says Martin. “Particularly in this environment, Haio’s sincere customer empathy, operational excellence and passion for product and marketing innovation, will fuel Old Navy’s competitive strengths on its path to $10 billion.”

Barbeito most recently served as president and CEO of Walmart Canada where he led more than 70,000 associates and drove significant growth in the online business. During his 26-year career at Walmart, he served in a variety of leadership roles across merchandising, marketing, supply chain and store operations with global experience in five countries. He has served in CEO roles at Walmart for 10 years, first as president and CEO of Walmart Argentina and Chile before taking the role as CEO of Walmart Canada.

Gap Inc., a collection of purpose-led lifestyle brands, is the largest American specialty apparel company under the Old Navy, Gap, Banana Republic, and Athleta brands. For more information, visit www.gapinc.com.

Old Navy is a global apparel and accessories brand that makes current American essentials accessible to every family. Originated in 1994, the brand is a division of San Francisco-based Gap Inc. and has more than 1,200 stores around the world. For more information, visit www.oldnavy.com.

 

 

 

 

SOURCE: Gap Inc.

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