Gap also said existing board member, Bobby Martin, will take on the role of executive chairman and that Elizabeth Smith and Amy Miles will join the company's board from April. where she held roles in product design, quality and manufacturing engineering. Prior to joining Gap, Syngal 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. Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.
Syngal will receive an annual base salary of $1.3 million and will take over effective March 23. has named Sonia Syngal president and chief executive officer of the corporation, elevating her from her current role as ceo of Old Navy. She will replace interim chief Robert Fisher, a member of the founding family behind Gap, who will also step down as chairman of the company's board. Greta Thunberg appears on the cover of Vogue, takes a swipe at fast fashion.Jasvinder Kaur chronicles the impact of the British Raj on the clothes of Punjab.Reliance Retail buys 52% stake in designer Ritu Kumar’s firm.The Old Navy unit has been a topic of much speculation after the company scrapped its plan to spin-off the unit in January. The e-commerce site ranked as fourth largest apparel site in the US during her tenure. She has been credited with taking Old Navy from $7billion to $8billion in sales in just three years. During her reign, Old Navy expanded its North American presence to more than 1,200 stores in the US, Canada, and Mexico in three years. Prior to her new role, Syngal was heading Gap's Old Navy unit since 2016.
"It’s an honor 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," Syngal stated. And as I reflect on the past 50 years, and thinking about the next 50 at this juncture, that’s really what I think about.
Set to take charge on March 23, the 49-year-old Syngal is the highest ranked Indian-American female CEO of a Fortune 500 company after Indra Nooyi stepped down as PepsiCo head in 2018.Īn engineer by training, Syngal was born in India, but was raised in Canada after her family migrated when she was a child. Sonia Syngal: Yeah, for all of the assets and the values that we’ve had as a company, we also were a company that needs radical change so that we can take on the next 50 years on it with an acceleration towards growth. This article first appeared on GuruFocus.America's largest apparel retailer, Gap Inc, on Thursday named long-time executive, Indian-born, Sonia Syngal as its new CEO, nearly four months after the surprise exit of its then chief Art Peck. The price of the stock has increased by 22.76% since.įor the complete insider trading history of GPS, click here The price of the stock has increased by 13.45% since.Ĭhief Legal&Compliance Officer Julie Gruber sold 29,109 shares of GPS stock on at the average price of $14.98. The price of the stock has increased by 4.61% since.Ĭhief Legal&Compliance Officer Julie Gruber sold 9,535 shares of GPS stock on at the average price of $16.21. Sonia Syngal sold 36,830 shares of GPS stock on at the average price of $17.58. GuruFocus has detected 4 severe warning signs with Gap Inc.ĬEO, Gap Inc. GuruFocus rated Gap Inc the business predictability rank of 3.5-star. Gap Inc had annual average EBITDA growth of 0.60% over the past ten years. This shielded the apparel retailer from the COVID-19 lockdown’s. In what’s possibly the most dramatic manifestation of the global supply chain crisis on the retail sector, Gap saw its share price crash yesterday as the retailer reported heavy losses as a result of product shipment delays. announced that online sales surged by 61 during the third quarter of fiscal year 2020, accounting for 40 of its 4 billion quarterly revenue. Gap CEO Sonia Syngal might want to bear in mind the maxim of Be careful what you wish for. The dividend yield of Gap Inc stocks is 2.64%. Dec 1 Sonia Syngal, CEO of Gap, engineers boost in online sales. Gap Inc has a market cap of $6.87 billion its shares were traded at around $18.39 with and P/S ratio of 0.48. The company offers products for men, women, and children under various brands such as Gap, Banana Republic, Old Navy, Athleta, and Intermix. Gap Inc is a global apparel and accessories retailer.
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