Gap Inc. (NYSE: GPS) announced on March 5, 2020, that its Board of Directors has named Sonia Syngal, a retail leader and CEO of the portfolio’s Old Navy business since 2016, as the company’s next chief executive officer, effective March 23. Syngal worked with Gap before she joined Old Navy.
In her new position back with Gap, she will also join the Gap Inc. Board of Directors.
As Gap Inc.’s new CEO, Syngal’s top priority will be strengthening the performance of the portfolio, the company press release said.
“To lead the company into its next chapter, we sought a dynamic leader who could bring a deep respect for our customers and make the decisions necessary to deliver value from our portfolio of brands over the long term,” Bob Fisher, interim Gap Inc. CEO and current chair of the Gap Inc. Board of Directors, is quoted saying in the press release.
Syngal is credited with leading Old Navy from $7B to $8B in sales in just three years, expanding its North American presence to more than 1,200 stores in the U.S., Canada and Mexico, scaling its ecommerce site to the no. 4 largest apparel site in the U.S.
Prior to that, she was Executive Vice President of Global Supply Chain and Product Operations, responsible for managing Gap Inc.’s global supply chain and redefining a best-in-class product-to-market model for its portfolio of brands.
“It’s an honor to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future,” Syngal said. “I’m committed to fully realizing the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.”
Syngal joined Gap Inc. first in 2004. During that phase, she served in key leadership and general management roles including Managing Director for the company’s Europe business, Senior Vice President for Gap Inc.’s International division and International Outlet division.