Art Peck won't officially become the CEO of Gap Inc. until Feb. 1, but he's already making some substantial changes to the company. In an interview with BuzzFeed on Wednesday, he spoke of a new focus on mobile and e-commerce, and a desire to lighten up on discounting. It turns out Peck is also shaking up the executive teams at Gap and Banana Republic.
Along with the release of its third quarter earnings results on Thursday afternoon, Gap Inc. announced that Jeff Kirwan and Andi Owen have been named the global presidents of Gap and Banana Republic, respectively. Both come from within the company; Kirwan has been the president of Greater China for Gap Inc. for the last three years, while Owen spent 19 years at Banana Republic before heading up the Gap Outlet division.
Gap's current global president, Stephen Sunnucks, will depart the company on Dec. 19, while Banana Republic's Jack Calhoun will transition out by Feb. 1.
In the third quarter of the year, which wrapped up on November 1, Gap Inc. brought in $3.97 billion across all of its brands, a 1 percent boost relative to the same period last year.