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PRESS RELEASE

7/23/2019

GAP INC. ANNOUNCES NANCY GREEN TO JOIN OLD NAVY AS PRESIDENT AND CHIEF CREATIVE OFFICER


SAN FRANCISCO – July 23, 2019 –
 Gap Inc. (NYSE: GPS) today announced that Nancy Green, who currently leads the Athleta brand, will shift in early August to a newly created role as President and Chief Creative Officer of Old Navy. In this new role, Nancy will lead Old Navy’s design, production, merchandising and marketing functions, and will report to Sonia Syngal, President and CEO of Old Navy.

While a search is underway for Athleta’s next president, the brand’s well-established leadership team will report to Gap Inc. Chief Executive Officer Art Peck.

“Nancy’s ability to drive growth is demonstrated by Athleta’s success. Under her leadership, the brand more than doubled sales with operating margin expansion due to a robust omni business fueled by a clear brand vision woven throughout product and experiences. Our expectation is for Athleta to reach $1 billion in sales in 2020,” said Art Peck, President and CEO, Gap Inc. “This will be Nancy’s third senior leadership assignment with Old Navy, and I am confident that she will guide further growth as we set Old Navy up for success as an independent public company.”

“I'm thrilled to have Nancy join Old Navy, bringing with her decades of experience in launching and expanding brands, product categories and new business models,” said Sonia Syngal, President and CEO, Old Navy. “As we chart the course for Old Navy’s future, I look forward to Nancy injecting new ideas centered on fun, family, fashion and value that will further enable us to democratize style for our millions of customers around the world.”

Green has over thirty years of retail leadership experience, with a demonstrated track record leading high growth businesses with breakthrough product and marketing. Prior to joining Athleta in 2013, Green served as EVP and Chief Creative Officer at Old Navy, leading the merchandising, design and production teams. During this time, the brand focused on innovation in core categories, launching new and expanding businesses and healthy, profitable growth. Green also served as interim co-leader of Old Navy in 2012.

About Gap Inc.

Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City brands. Fiscal year 2018 net sales were $16.6 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through company-operated stores, franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

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