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Old Navy exec sets sail to become CEO of Ralph Lauren
The top executive at Gap Inc.’s fastest growing division, Old Navy, has resigned to become CEO of Ralph Lauren.
Gap Inc. said that Stefan Larsson would step down as global president of Old Navy effective October 2, 2015, and the division would be led on an interim basis by Jill Stanton, executive VP of global product at Old Navy.
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HBC cutting 265 jobs as it realigns business, IT
Hudson's Bay Company (HBC) is launching a wide-ranging cost-cutting initiative and corporate realignment strategy, with omnichannel technology at the center.
The realignment will include a reduction of about 265 corporate employees, expected to result in an annual savings of $75-million a year. The cuts are mostly in the company’s U.S. corporate offices in New York.

