Old Navy's split from Gap is likely to give the Fortune 500 a new female CEO

    By: Asha Smith on Mar 04, 2019

    Grace Dobush writes in Fortune, "The Fortune 500 is due to get a new female CEO. Gap Inc. (GPS, -4.27%) announced Thursday that it is spinning off its successful Old Navy brand into its own publicly-traded company. With annual revenue of some $8 billion, Old Navy is likely to land on the Fortune 500 list once its spinoff—pegged for 2020—is complete. That means Old Navy’s CEO Sonia Syngal, who’s expected to stay on at the new company, will join the all-too-small club of female chief executives in the Fortune 500. At present, there are 27 female CEOs in the Fortune 500, meaning women lead just 5% of the U.S.’s top firms by revenue.

    So who is Sonia Syngal? She has been president and CEO of Old Navy since 2016, when she took the reins from Stefan Larsson, who left the clothier for what turned out to be a brief stint as Ralph Lauren’s chief executive. Syngal first joined parent Gap Inc. in 2004 as the vice president of sourcing strategy. Later, she served as senior vice president of Old Navy’s international business and executive vice president for Gap’s global supply chain and product operations." READ MORE>> 

    Released: March 4, 2019, 9:39 am
    Keywords: NAWL News


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