Gap Inc. names Sonia Syngal as Old Navy president
14 April 2016 Entertainment News
Nathan Andrada – Fourth Estate Contributor
New York, NY, United States (4E) – Gap Inc. said on Wednesday that it named Sonia Syngal to become the president of Old Navy, as the company looked for internal talent to replace Stefan Larsson after he was named as CEO of Ralph Lauren Corp. in 2015.
Syngal was Gap's executive vice VP of global supply chain, and has previously overseen the European business of Banana Republic and Gap.
The decision comes at a time when Gap is struggling to regain its momentum. For years, Old Navy, which is a budget chain selling casual apparel, had been a bright spot, but its sales growth has declined adding to the company's troubles with customers defecting to rival chains and online retailers.
In the January to March period, Old Navy posted a 6 percent decline in same-store sales for its stores open more than 12 months in March. The decline followed February's unchanged performance and a 6 percent year-over-year drop in January.
Gap also named Jill Stanton, who was Old Navy’s interim CEO, as an adviser during transition of Syngal . Shawn Curran was named as executive VP of global supply chain logistics and product operations. Meanwhile, Michael Yee will take over as executive VP of the global supply chain, sourcing and production.