Gap has named an executive at its Old Navy brand as its new CEO in the hopes that she can turn the struggling company around
NEW YORK —
Gap on Thursday named an executive at its Old Navy brand as its new CEO in the hopes that she can turn the struggling company around.
Sonia Syngal, who has overseen the Old Navy brand since 2016, will start as CEO of Gap Inc. later this month. The clothing company has been looking for a permanent CEO after Art Peck left the top job in November.
Old Navy has been a bright spot for the Gap, and the company had planned to spin it off into a separate company. But those plans were scrapped earlier this year due to high costs.
Syngal, who has worked at the San Francisco-based company for about 16 years, will also join the Gap’s board of directors.