Gap Inc. Announces CEO Sonia Syngal to Step Down and the Appointment of Horacio “Haio” Barbeito as President and CEO of Old Navy
Executive Chairman Bob Martin to Serve as Interim Gap Inc. Chief Executive Officer
SAN FRANCISCO–(BUSINESS WIRE)–Gap Inc. (NYSE: GPS) announced today that president and chief executive officer Sonia Syngal will step down from her position and from the company’s Board, departing the company following a brief transition.
Effective immediately, Bob Martin, the company’s current executive chairman of the Board, will serve as Gap Inc. president and chief executive officer on an interim basis. Mayo Shattuck will continue to serve as lead independent director.
Bob Martin is a 40-year industry veteran with extensive retail experience at corporations including Dillard’s Inc. and Walmart where he served as CEO of its International division. He has served on the Gap Inc. Board since 2002, as lead independent director from 2003 to 2015, and as executive chairman since 2020. Mr. Martin brings significant global governance and executive management experience as well.
The company also announced that Horacio “Haio” Barbeito will join the Gap Inc. Leadership Team as president and chief executive officer of Old Navy, where he will lead the brand in delivering on its unique value proposition, offering style, fit, quality and cultural relevance at jaw-dropping prices. Barbeito will join Old Navy on August 1.
Barbeito most recently served as President and CEO of Walmart Canada where he led more than 70,000 associates and drove significant growth in the online business. During his 26-year career at Walmart, he served in a variety of leadership roles across merchandising, marketing, supply chain and store operations with global experience in five countries. He has served in CEO roles at Walmart for 10 years, first as President and CEO of Walmart Argentina and Chile before taking the role as CEO of Walmart Canada where he has spearheaded a modernization effort to grow that market’s omnichannel business. He holds a bachelor’s degree from Universidad Argentina Empresa.
