Gap Outlet President Departing

The retailer is searching for a replacement for Diane Neal.
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(GPS) - Get Report

said Thursday that the president of its outlet division, Diane Neal, plans to leave the company.

The move is effective Nov. 3, Gap said. The retailer didn't provide a reason for Neal's departure.

Gap said it is searching for Neal's successor. In the interim, the outlet division will report to Gap President and CEO Paul Pressler.

Neal, 50, will be the second top Gap executive to leave in a month. Jenny Ming, the longtime head of its Old Navy brand, left the company Oct. 15, a departure that had been planned since the summer.

Gap is in the midst of trying to turn around a prolonged sales decline across all of its brands. The company doesn't break out its outlet retail sales; they are included within the results of each brand.