17 October 2012 10:30
Gap Inc. has announced a new global brand structure, which will see the company bringing together its North American, international, online, outlet and franchise divisions under a single global executive for each of its Gap, Banana Republic and Old Navy brands. In addition, the company will form a new innovation and digital strategy team team to further its leadership position in this area.
"Our strong performance gives us the confidence to make this move to bring each brand together with the goal of gaining market share around the world and enhancing shareholder value," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "The global teams will move even faster in anticipating and responding to the ever-evolving needs of customers, delivering consistently great product around the world."
Effective from November 5th, the following members of the company's management team will begin to transition into their new roles in preparation for the upcoming fiscal year:
Steve Sunnucks, current president of the Gap Inc's international division, will become global president, based in New York. Mr Sunnucks held senior leadership roles at retailers such as Marks & Spencer and New Look, where he served as CEO.
Art Peck, current president of Gap North America has been appointed president of the new innovation, digital strategy and new brands division.
At Banana Republic, Jack Calhoun, the established president for North America, will become global president and expand his focus to include all channels and markets globally.
At Old Navy, Stefan Larsson, a veteran of global retailer H&M, started earlier this month as global president.
Jill Stanton, the former Nike executive who has served as a creative advisor to Old Navy this year, will join the brand full-time, overseeing all aspects of product design, development and production, reporting to Mr Larsson.
The company also announced that Toby Lenk, president of its online division, would be leaving Gap Inc. in February 2013.