This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gap Taps Internal Exec as CFO

SAN FRANCISCO -- Gap (GPS - Get Report) named Sabrina Simmons to the role of chief financial officer on a permanent basis.

Simmons, 44, had been serving as the retailer's acting CFO since last August, when Byron Pollitt departed to become financial chief of credit card giant Visa.

"As Sabrina has taken on more responsibility over the years, her deep knowledge of specialty retail, strong financial acumen and personal integrity have earned her the respect of those inside and outside the company," said Gap Chief Executive Glenn Murphy. "After working closely with Sabrina, it became clear that she has proven herself to be extremely capable and is the right person to partner with me and our business leaders to drive our financial priorities."

Simmons joined Gap nearly seven years ago as vice president and treasurer. She had also served as senior vice president of corporate finance. Before Gap, she was CFO of a British genetics company, and also worked at Levi Strauss, Hewlett Packard (HPQ) and KPMG.

Simmons' appointment comes six months after Murphy took over as CEO. Both face the monumental task of turning the company around after three years of slumping sales. Gap's largest division, Old Navy, has yet to find its footing amid a sea of low-priced competitors, while the company's namesake brand is slowly starting to show some improvement. Gap's third brand, Banana Republic, remains the one relatively bright spot, but it also represents the smallest of the divisions.

Shares of Gap were down 20 cents, or 1.2%, to $17.24 on Thursday.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GPS $40.63 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs