Building upon its solid performance this year, Gap Inc. announced a new global brand structure designed to fuel the company's long-term growth. Gap Inc.'s five brands and over 3,200 stores are currently located in more than 40 countries worldwide, up from just eight countries in 2006.
With the start of the 2013 fiscal year, the company will bring together its North American, International, Online, Outlet and Franchise divisions under a single global executive for each of its Gap, Banana Republic and Old Navy brands. In addition, to build upon the company's considerable online success and industry-leading technological advances, the company will form a new Innovation and Digital Strategy team to further its leadership position in this area.
"Our strong performance gives us the confidence to make this move to bring each brand together with the goal of gaining market share around the world and enhancing shareholder value," said Glenn Murphy, chairman and chief executive officer of Gap Inc. "The global teams will move even faster in anticipating and responding to the ever-evolving needs of customers, delivering consistently great product around the world."
Effective November 5, the following members of the company's management team will begin to transition into their new roles in preparation for the upcoming fiscal year:
At Gap brand, Steve Sunnucks, a 30-year retail veteran and the current president of the Gap Inc. International division, will become Global President, based in New York. Sunnucks brings to this new role extensive global expertise having held senior leadership roles at retailers such as Marks & Spencer and New Look, where he served as CEO. Mark Breitbard, the senior product leader for the brand in the United States and Canada, will take on an expanded role based in San Francisco as President of Gap North America, reporting to Sunnucks.
"Steve is an accomplished fashion retailer who has significantly expanded our International presence," Murphy added. "I'm confident he can build upon the success in North America, while also taking Gap to the next level."
Art Peck, the current president of Gap North America who has led the successful resurgence of the company's flagship brand, has been appointed President of the new Innovation, Digital Strategy and New Brands Division. Peck will build upon the company's leadership position in e-commerce and oversee further investments to provide our portfolio of brands with world-class digital capabilities and expertise. He will also guide the development and growth of the Athleta and Piperlime brands.
At Banana Republic, Jack Calhoun, the established president for North America, will become Global President and expand his focus to include all channels and markets globally. Calhoun has grown sales by positioning Banana Republic as the go-to brand for professionals seeking modern and versatile workplace style. The brand's top merchant, Julie Rosen, will take on additional responsibility for the brand's North American performance, while continuing to lead global product, reporting to Calhoun.
