Gap Inc. announced on Tuesday morning that Gap Brand President and CEO Jeff Kirwan will step down from his role at the apparel brand and retailer, which he's served for the past four years. Kirwan joined Gap Inc. in May 2004 from Target and has also contributed to Gap and Old Navy's growth in China.
Gap Inc. CEO Art Peck provided an official statement on Kirwan's departure in a press release:
Under Jeff's leadership we made significant progress on the operating model of Gap brand. We are faster and more responsive than ever before, we radically improved quality and fit, and we centered the brand on the aesthetic that our customers love: casual, optimistic and American. We have also seen the results of exceptional marketing and customer engagement reflected in increased traffic, improved sales and the strength of the digital business... While I am pleased with our progress in brand health and product quality, we have not achieved the operational excellence and accelerated profit growth that we know is possible at Gap brand. As we move into the brand's next phase of development, Jeff and I agreed it was an appropriate time for a change in leadership.
The company is currently in the process of hiring Kirwan's replacement and in the meantime, Brent Hyder, Gap Inc. EVP of Global Talent and Sustainability, will oversee the brand. As Old Navy continues to be the corporation's most profitable brand, Gap has been making strides to win back its customer base, boosting its digital presence and tapping into its nostalgia factor. At the beginning of this year, Gap released its "Logo Remix" collection with a star-studded campaign featuring Sza, Metro Boomin and "The Florida Project"'s Bria Vinalte, among others.