GAP CEO, Paul Pressler, Leaves the Gap
From WWD.com (Women's Wear Daily) 1/22/07:
Washington Post 1/22/2007:Pressler Leaves Gap
After a stormy four and half years at the helm of the Gap Inc., Paul Pressler is finally out.
His tenure was marked by declining market share, negative sales comps across the Old Navy and Gap divisions, massive executive turnover, and failed attempts to revive the brands through new marketing ploys and store redesigns.
Chairman Bob Fisher, son of Gap Inc. founder Don Fisher, has been named interim ceo. A search for a successor to Pressler is underway.
Full story HEREGap CEO Paul Pressler steps down
LOS ANGELES (Reuters) - Gap Inc. Chief Executive Paul Pressler, under pressure over the retailer's struggling sales and stock price, resigned effective immediately, the company said on Monday.
Nonexecutive chairman Robert Fisher will fill in on an interim basis.
Pressure on Pressler had been mounting over the past year, and especially in recent weeks, as the iconic retailer of casual American apparel has failed to turn around disappointing sales.