Gap finance chief to depart

The CFO of Gap Inc. is leaving the company after serving in the role for nearly a decade.



The retailer announced that executive VP and CFO Sabrina Simmons is leaving. She will remain through the end of the company’s 2016 fiscal year, "ensuring a seamless transition over the coming months."



“Since I assumed the CEO role two years ago, Sabrina has been an instrumental partner in helping the company transition to a new leadership team,” said Art Pect, CEO, Gap Inc. “With that period of transition behind us, Sabrina and I agreed that this was an appropriate time for a change in the organization and for her to pursue the next chapter in her career. Sabrina and I will work together to ensure an orderly transition in the coming months.



Since joining Gap Inc. in 2001, Simmons has progressed through positions of increasing responsibility from VP and treasurer to executive VP. Simmons has served as the company’s CFO since late 2007.



Most recently, her responsibilities have included all global financial functions, including corporate and brand financial planning and analysis, treasury, risk management, tax, investor relations, controllership, corporate shared service centers, and internal audit, in addition to real estate, loss prevention, and corporate facilities.