GAP INC. ANNOUNCES LEADERSHIP CHANGES AT GAP BRAND AND OUTLET BUSINESS
Gap Brand Designer Charlotte Neuville Steps Down, Tom Wyatt Will Lead Outlet
SAN FRANCISCO -- February 8, 2007 – Gap Inc. (NYSE: GPS) announced today that Charlotte Neuville, 54, head designer for Gap North America, is leaving the company. Gap will launch an external search for a head of design to succeed Ms. Neuville.
“On behalf of everyone at Gap brand, I want to thank Charlotte for all her efforts” said Marka Hansen, president of Gap North America. “We wish her the best in the future.”
Separately, Tom Wyatt, president of GapBody, will assume the additional responsibilities for, and has been named president of, Gap Inc. Outlet.
Mr. Wyatt, 51, succeeds Diane Neal, who left the company in November. He will continue to report to Ms. Hansen. Both changes are effective immediately.
“Tom has led a number of well-respected companies with large brand portfolios during his 30-year career in retail,” said Ms. Hansen. “We’re confident that he’ll continue to build on the foundation for growth that he has established with GapBody while he works with the Outlet team to identify opportunities to drive their business forward.”
“I’m delighted to have the opportunity to lead the Outlet organization,” said Mr. Wyatt. “There is a terrific team in place and I’m looking forward to working with them to unlock the potential in the Outlet business.”
Mr. Wyatt joined Gap a year ago from Cutter & Buck Inc., where he served as president and CEO. Prior to that, Mr. Wyatt was chairman and CEO of Parisian, a chain of specialty department stores owned by Saks Inc. Mr. Wyatt led Warnaco Intimate Apparel, a global designer and manufacturer of highly recognized brand names, and spent more than 20 years with Vanity Fair where he served as president of the brand’s Intimates Collection.
About Gap Inc.
Gap Inc. is a leading international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Forth & Towne and Piperlime brand names. Fiscal 2006 sales were $15.9 billion. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Asia and the Middle East. For more information, please visit gapinc.com.