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How new Gap CEO Sonia Syngal plans to turn around the company - Business Insider

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Gap's new CEO revealed her game plan to turn around the struggling company after transforming Old Navy into the second largest apparel retailer in the country

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.After 15 years with the company and four years as CEO at Old Navy, Sonia Syngal is preparing to take over at the helm at Gap Inc. and has high hopes to turn around the ailing retailer.

"She's a passionate leader focused on moving fast, while driving a culture of accountability and alignment," Fisher said on the call. "She brings a wealth of institutional knowledge and the skills and experiences to best lead this company during this time." "Our performance had been lackluster over the last several years," Syngal said on Thursday's call. "Simply put, we have fallen short in execution and have not fully monetized our brands, our assets, and the capabilities we have been investing in. There is much work ahead for us to strengthen the performance of the company and the portfolio, but I believe in the potential of this company and of our team.

 

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