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She is also a member of the Boys & Girls Club of America’s Board of Governors and serves on The Gap Foundation Board of Trustees.where she held roles in product design, quality and manufacturing engineering. Prior to joining Gap Inc., she had a long career in Fortune 500 product companies, including Sun Microsystems where she led manufacturing operations, logistics and supply chain management, and at Ford Motor Co.in 2004, she has served in key leadership and general management roles including Managing Director for the company's Europe business, Senior Vice President for Gap Inc.’s International division and International Outlet division. Prior to that, Syngal was the Executive Vice President of Global Supply Chain and Product Operations, responsible for managing Gap Inc.’s global supply chain and redefining a best-in-class product-to-market model for its portfolio of brands.and building competitive omni-channel capabilities. She led Old Navy from $7B to $8B in sales in just three years, expanding its North American presence to more than 1,200 stores in the US, Canada and Mexico, scaling its e-commerce site to the number 4 largest apparel site in the U.S. Syngal is an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016.To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.” I’m committed to fully realizing the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. She is an excellent operator who drives innovation and decisive action, and she leads with both vision and heart," he added.Īfter being chosen as the CEO, Syngal said, “It’s an honour to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future. “Sonia has all of the characteristics and experiences needed to effectively execute against the work ahead. Though Syngal's entrance comes at a turbulent time for the company, she said she is confident that the work done in the lead-up to the spinoff will ultimately position Gap in a place to succeed and "accelerate cost transformation.We’re thrilled to announce Sonia Syngal as the next CEO of Gap Inc.! Please join us in welcoming Sonia to her new role. There is much work ahead for us to strengthen the performance of the company and the portfolio, but I believe in the potential of this company and of our team." "Simply put, we have fallen short in execution and have not fully monetized our brands, our assets, and the capabilities we have been investing in. "Our performance had been lackluster over the last several years," Syngal said on Thursday's call. Syngal's appointment will also signal a more widespread change in leadership as executives take new roles, such as Katrina O'Connell who will serve as incoming CFO. The cancellation also came just two months after former Gap CEO Art Peck stepped down from the company, ceding his role to Robert Fisher on an interim basis. cancelled the spinoff, citing "cost and complexity" after a period of poor sales performance across the entire brand portfolio, which also includes Banana Republic, Athleta, and Intermix, among others.
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"She brings a wealth of institutional knowledge and the skills and experiences to best lead this company during this time."Īt the beginning of 2020, Syngal was poised to lead Old Navy as an independent standalone company, but the spinoff plan that was ultimately scrapped. "She's a passionate leader focused on moving fast, while driving a culture of accountability and alignment," Fisher said on the call.
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Syngal has served as Old Navy's CEO since 2016, a period of significant growth for the brand, which has since ballooned into the second largest apparel retailer in the country.Īt Old Navy, Syngal helped increase sales by $1 billion from 2016 to 2019, and she played a significant role in the brand's expansion to 1,200 stores in the US, Canada, and Mexico, Gap interim CEO Robert Fisher said on a call with investors on Thursday. earlier this month, after more than 15 years with the company. Syngal - who will continue to serve as CEO of Old Navy until March 23 - was announced as the next leader of Gap Inc. It's been a challenging few years for Gap, but with newly appointed CEO Sonia Syngal soon to take the helm, the beleaguered retailer may still have a chance yet.