Gap to restructure management
NEW YORK -- Gap has announced a management overhaul aimed at enabling the retailer to respond more quickly to customers' needs across the globe.
The change will put the North American, international, online, outlet and franchise divisions under a single global executive for each of the company's brands -- Gap, Banana Republic and Old Navy.
The San Francisco-based clothing chain also said Tuesday that it will form a new innovation and digital strategy team to further advance its efforts in that area.
The changes, which take effect in February, build upon the shifts made in 2011 that brought together its specialty and outlet divisions and established the Gap Global Creative Center in New York.