Shakeup at Gap
The head of Gap Inc.’s namesake division is stepping down after failing to improve operations and profit growth at the brand.
In a surprise announcement, Gap said that Jeff Kirwan, president and CEO of the Gap brand, is leaving the company. Kirwan joined Gap in 2006 and has served in a number of management roles. He was named to his current in the position since December 2014.
Brent Hyder, currently executive VP, global talent and sustainability of Gap Inc., will oversee the brand while the company searches for a new president. The news comes a little over a week before Gap will announce its fourth-quarter results.
In a statement, Gap Inc. CEO Art Peck said that significant progress on the operating model of the Gap brand has been made under Kirwans leadership, and that the brand is “faster and more responsive than ever before.” He also cited “radically improved quality and fit.”
"While I am pleased with our progress in brand health and product quality, we have not achieved the operational excellence and accelerated profit growth that we know is possible at Gap brand,” Peck said. “As we move into the brand's next phase of development, Jeff and I agreed it was an appropriate time for a change in leadership.”
We have also seen the results of exceptional marketing and customer engagement reflected in increased traffic, improved sales and the strength of the digital business. "
In a surprise announcement, Gap said that Jeff Kirwan, president and CEO of the Gap brand, is leaving the company. Kirwan joined Gap in 2006 and has served in a number of management roles. He was named to his current in the position since December 2014.
Brent Hyder, currently executive VP, global talent and sustainability of Gap Inc., will oversee the brand while the company searches for a new president. The news comes a little over a week before Gap will announce its fourth-quarter results.
In a statement, Gap Inc. CEO Art Peck said that significant progress on the operating model of the Gap brand has been made under Kirwans leadership, and that the brand is “faster and more responsive than ever before.” He also cited “radically improved quality and fit.”
"While I am pleased with our progress in brand health and product quality, we have not achieved the operational excellence and accelerated profit growth that we know is possible at Gap brand,” Peck said. “As we move into the brand's next phase of development, Jeff and I agreed it was an appropriate time for a change in leadership.”
We have also seen the results of exceptional marketing and customer engagement reflected in increased traffic, improved sales and the strength of the digital business. "