SAN FRANCISCO – April 19, 2007 – Gap Inc. (NYSE: GPS) announced today that Gary Muto, a 19-year veteran of the company, will return to Gap brand as the head of its Adult business. Mr. Muto, who most recently led the company’s Forth & Towne concept, will become president of Gap Adult and gapbody, effective immediately.
In his new role, Mr. Muto, 47, will be responsible for all aspects of the Gap Adult and gapbody businesses in North America. He will report directly to Marka Hansen, president, Gap North America. Tom Wyatt, president of gapbody will become the president of Gap Inc. Outlet, focusing his full attention on overseeing Gap Outlet and Banana Republic Factory Stores. Mr. Wyatt, 51, had assumed responsibility for the Outlet division in March.
“Gary is a proven merchant, and has held a variety of leadership roles during his 19 years with the company,” said Robert J. Fisher, Gap Inc. interim CEO and Chairman of the Board. “Marka and Gary are a dynamic team with a strong history with Gap brand. They’ll help us make the changes necessary for the long term.”
"We’re fortunate and excited to have Gary back with Gap brand,” said Marka Hansen, president, Gap North America. “Gary is an exceptional merchant and experienced leader having contributed enormously to the success of the company and many of its people over the years. We look forward to drawing on his deep merchandising experience and expertise during this important time for Gap brand.”
Mr. Muto began his career with the company in 1988 as a merchandise manager in Gap brand. He progressed through merchandising positions of increasing responsibility within the Gap and Banana Republic brands until he became president of Banana Republic in 2001. A year later, Mr. Muto was named president of Gap brand. He was then asked to launch the company’s test of the Forth & Towne concept which, as previously announced, will cease operations in June.
"I care deeply about this company and it’s great to be back at Gap brand,” said Muto. “I look forward to working with Marka and the team to return the brand to its leadership position.”
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 and Forth & Towne brand names. Fiscal 2006 sales were $15.9 billion. Gap Inc. operates about 3,000 stores in the United States, the United Kingdom, Ireland, Canada, France and Japan. For more information, please visit gapinc.com.
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