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Gap Splits Supply Chain

Nick Cullen departs.
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(GPS) - Get Gap, Inc. Report

said supply chain chief Nick Cullen will leave the company.

The San Francisco-based apparel chain said it doesn't plan to replace Cullen. Instead, it will split the sourcing and logistics functions to better align the global sourcing team with the brands, and logistics with inventory planning and distribution. Stan Raggio, a former Gap supply chain executive, will return from retirement to lead sourcing.

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"Over the past two years, we've made solid progress further strengthening our supply chain organization," said CEO Paul Pressler. "It continues to be a competitive advantage for us. I want to thank Nick for his many contributions and wish him well."

The logistics division, which formerly reported to Cullen, will continue to be led by senior vice president Colin Funnell, who will now report to finance chief Byron Pollitt.

Shares of Gap rose 12 cents Friday to $18.40.