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Pressler left Disney in September of 2002 to become the chief executive at Gap Inc. after initially turning them down. [3] Gap was struggling with an over-expansion of store locations. Pressler brought in several other Disney executives. In summer 2004, he had Gap launch a new chain, Forth & Towne. He resigned on January 22, 2007. [7]
The news comes shortly after another major executive shift for the company in April, when Nancy Green stepped down from her role as president and CEO of Old Navy. Gap Inc. CEO Sonia Syngal to Step ...
Gap's shares were down 21% under Syngal's CEO tenure compared to a 43% rise in the S&P 500. No permanent CEO at the Gap yet. Likely inventory bulge exiting the lackluster second quarter of sales.
Within retail, these departures come after two years of relative stability for the industry.
Sonia Syngal, CEO, Gap Inc. Syngal was born to Sushma and Satya Syngal in India, before her family moved to Canada at a young age. She later moved to the United States where she got her bachelor's degree in Mechanical Engineering from Kettering University in 1993.
In 2007, Gap announced that it would "focus [its] efforts on recruiting a chief executive officer who has deep retailing and merchandising experience ideally in apparel, understands the creative process and can effectively execute strategies in large, complex environments while maintaining strong financial discipline".
Gap CEO Sonia Syngal to leave company, stock moves down. July 11, 2022 at 4:59 PM ...
[12] [13] During his time at Gap Inc. he had worked alongside Steve Jobs, who was a board member of Gap Inc. at the time and a friend of Drexler. [ 14 ] On May 22, 2002, however due to a sales slump and ballooning debt, plus his management style which clashed with the Fisher family, Drexler was abruptly forced to announce his retirement by Gap ...