NEW YORK — Gap hasactually tapped a leading Mattel executive who re-energized Barbie and Hot Wheels to be its next president and CEO.
The San Francisco-based chain, which runs shops under its name as well as Old Navy, Banana Republic and Athleta, stated Wednesday that Richard Dickson will signupwith Gap Inc. on Aug. 22 from his most current function as president and chief operating officer of toy giant Mattel. In a different statement, Mattel, based in El Segundo, California, stated that Dickson will leave Aug. 3.
Gap’s CEO area hadactually been uninhabited giventhat Sonia Syngal left last July. Dickson hasactually been a board member of Gap giventhat November.
The relocation comes as Gap, assoonas an renowned purveyor of khakis and other casual wear in its primetime in the 1990s, hasactually been havingahardtime with a sales downturn for years inspiteof many efforts to repair the organization through a revolving door of executives. The pandemic and rising supply chain expenses exacerbated monetary conditions at The Gap, in addition to other disturbances. In April, Gap revealed it was laying off 1,800 business employees, approximately 3 times the number of headoffice tasks it cut last fall, as the havingahardtime chain cuts expenses in a quote to endedupbeing more active.
Gap’s Chairman Bobbie Martin, who served as