In the latest management change at
, the company announced on Tuesday that the head of its outlet division has resigned, effective immediately.
Neal Goldberg left the company, Gap said in a press release without further detail. Telephone calls to Gap were not immediately returned. The company said it has begun a search for a replacement.
Goldberg joined Gap in September 2001 during the reign of CEO Mickey Drexler, who was succeeded by Paul Pressler a year later. Goldberg was executive vice president of the outlet division and became its president in April 2002. Gap's outlet stores sell overstocked, lesser-priced company goods. The stores include Gap, Banana Republic and Old Navy Outlet stores in the U.S.
Heather Brilliant, an analyst at Morningstar who covers Gap, says Goldberg's resignation will not affect the company's business because he was "not high-profile within the company."
"It's a nonevent," she said. Goldberg "is not instrumental to the new management doing a good job."
Gap has had many management changes over the past 18 months, as Pressler recruited people with whom he had worked in the past. On Jan. 18, Gap named Byron Pollitt chief financial officer, succeeding Heidi Kunz, who resigned. Prollit left
, where Pressler once ran the theme parks and resorts unit.
Additionally, Maureen Chiquet resigned as president of GAP's Banana Republic chain in May and Chuck Crovitz, its chief supply-chain officer, left the company in July.
In other management appointments in 2003: Andrew Rolfe was hired as president of the international division; Nicholas A. Severino joined the company as a divisional chief financial officer; Lee Bird was promoted to chief operating officer of its domestic Gap division; and Patti Johnson succeeded Bird as chief financial officer of the Old Navy division.
"It is sort of a new management team having to prove themselves," said Brilliant.
Shares of San Francisco-based Gap were climbing 50 cents, or 2.4%, at $21.80 in recent trading.