Must Read: Gap CEO Sonia Syngal Steps Down, Are Luxury Megabrands Getting Too Big?

Home » Must Read: Gap CEO Sonia Syngal Steps Down, Are Luxury Megabrands Getting Too Big?
Must Read: Gap CEO Sonia Syngal Steps Down, Are Luxury Megabrands Getting Too Big?


These are the stories making headlines in fashion on Tuesday.

Gap CEO Sonia Syngal steps down
As Gap faces supply chain challenges and sharp declines in sales, its CEO is stepping down. Syngal joined the retailer in 2004 and served as chief executive officer since March 2020. In the three-month period before April 30, the company suffered a net loss of $162 million in comparison to the same period last year, where it made a profit of $166 million. Syngal will stay in her position during a brief transition period, and Bob Martin, the company’s current executive chairman of the board, will serve as interim president and CEO, said Gap in a statement. {CNBC}

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