Can the Old Navy Chief Bring Growth Back to The Gap?
As chief executive officer of The Gap's (NYSE: GPS) Old Navy brand, Sonia Syngal helped grow sales to $8 billion from $7 billion in three years. Now the question is: Can this leader of The Gap's strongest brand boost sales at the struggling parent company as well?
The Gap recently named Syngal as its new permanent CEO. The naming of a leader is a relief for investors, removing at least one source of uncertainty and allowing interested parties to imagine a recovery plan on the horizon. The lack of visibility until this point has weighed on the company's already suffering shares, dragging them lower by 34% since former CEO Art Peck's surprise departure in November.
Image source: The Gap.
Source Fool.com
