Old Navy President Steps Down

San Francisco Gap Inc. has parted ways with an executive who spent the past 16 months trying to engineer a turnaround at the company's struggling Old Navy chain. Dawn Robertson stepped down as Old Navy's president by "mutual decision," the company said Tuesday.

Tom Wyatt, who runs Gap's outlet division, will be Old Navy's acting president until a permanent replacement is found.

Robertson was hired in October 2006 by Paul Pressler, who stepped down as Gap's CEO just a few months later.