Shares of Gap Inc. plunged 18 percent on Friday after the mall-based clothing giant announced the exit of Old Navy’s CEO, Nancy Green, and lowered its guidance. Do you see Old Navy’s current problems as a short-term blip or requiring a longer-term fix?
Gap Inc. didn’t have to look far for a new chief executive to replace its former CEO, Art Peck. The specialty clothing retailer has announced that Sonia Syngal, CEO of Old Navy since 2016, will be the next executive to lead the company. Is Sonia Syngal the right executive to lead Gap Inc. at this time?
For several years, Old Navy was the clear bright spot among the portfolio of struggling brands owned by Gap Inc. That was until last year when the chain began falter. The big question this morning is whether a newly appointed CEO will be able to right the Old Navy ship. What do you see as the keys to Old Navy getting its business back on track?
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