The FINANCIAL — Gap Inc. on September 29 announced that Stefan Larsson will step down as global president of Old Navy effective October 2, 2015.
Jill Stanton, executive vice president of Global Product at Old Navy, will lead the division in the interim, reporting to Gap Inc. Chief Executive Officer Art Peck. A search for a new global brand president is already under way, according to Gap.
“We have an impressive team at Old Navy, with some of the best creative and business talent in the industry, and they are delivering consistent results,” said Peck. “We have a clear strategy in place, and I have every confidence the brand will continue to build on its momentum and realize its substantial growth potential.”
Stanton is a proven industry veteran with more than 25 years experience, including almost 14 years at Nike where she served as vice president and general manager of global apparel.