With Gap Inc.’s CEO Out and Sales Falling, Who Will Turn the Company Around?
In September, Gap Inc.’s CEO Art Peck hosted an analyst day to sell the decision to spin-off Old Navy to the financial community. Now, after four years at the helm, Peck is out, leaving declining sales, uncertainty about an Old Navy spin-off, and a big question about who can reimagine an iconic American retailer.
“Obviously this was not planned,” said David Swartz, equity analyst for Morningstar. “Christmas is a bad time to have to replace your CEO.”
Under normal circ...