Old Navy chief executive Sonia Syngal gets to be a Fortune 500 CEO after all.Syngal becomes the 37th female CEO in the Fortune 500 when she takes the reins. And Syngal, an engineer by training, also oversaw the fast growth of Old Navy’s e-commerce, now a $1.6 billion business, as detailed in a But more recently, the business has stumbled, hurt by intense competition from the likes of Gap Inc.’s previous CEO, Art Peck, left abruptly in November after failing for years to reverse the sales slides at The Gap and Banana Republic brands. Syngal is a natural choice for the job. 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The stock has lost about a quarter of its value so far in 2020, continuing the broad slump that began in 2018.Syngal oversaw sustained growth at the Old Navy chain — but like Gap’s namesake brand, that expansion has evaporated in recent quarters. One of his last acts was to try to spin off Gap’s discount chain Old Navy from its other brands — an attempt that was ultimately scrapped. She is an excellent operator who drives innovation and decisive action, and she leads with both vision and heart,” Bob Fisher, interim Gap Inc. CEO and chair of its board, said in a statement.Assignment on 'I Can't Breathe' Cartoon Causes Controversy in Texas SchoolHow to Stuff a Turkey the Right Way (for the Juiciest, Most Flavorful Result) After roles in the auto and tech industries, Sonia Syngal has been president and CEO of Old Navy since 2016. Most recently, Sonia led Old Navy from $7B to $8B in sales in just three years, expanding its North American presence to more than 1,200 stores, scaling its ecommerce site to the no. He also failed to reignite sales growth during his tenure, with the company posting multiple quarters of negative same-store sales, a closely watched metric for retailers.The attempt to spin off Old Navy highlighted Gap’s operational deficiencies and led to the abrupt change in strategy.“The work we’ve done to prepare for the spin shone a bright light on operational inefficiencies and areas for improvement,” Fisher said in a statement in January.Gap, which was founded in 1969 in San Francisco, owns its namesake brand, Old Navy, Banana Republic and athleisure brand Athleta.PMO explores common voter list for Lok Sabha, state and local pollsSanjay Dutt's lung cancer treatment continues in Mumbai, no plans to fly to the US: ReportDavid Warner, Aaron Finch, Matthew Wade find form before Australia warm-up washed outHow to share your screen with other participants on a Webex video call using a computer or mobile deviceAlmost 20,000 Cases of These Types of Noodles Have Been RecalledRecovery likely to be seen from Q3FY21: Jitendra Adhia, Atul AutoMajestic video of a tigress with her three cubs delights the Internet.

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