https://sputnikglobe.com/20191107/gap-shares-slump-after-ceo-art-peck-announces-resignation-1077250818.html
Gap Shares Slump After CEO Art Peck Announces Resignation
Gap Shares Slump After CEO Art Peck Announces Resignation
Sputnik International
The clothing retailer expects a reduced profit outlook for fiscal 2019 after the company said CEO Art Peck will step down effective immediately. 07.11.2019, Sputnik International
2019-11-07T21:49+0000
2019-11-07T21:49+0000
2019-11-07T22:16+0000
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Gap Shares Slump After CEO Art Peck Announces Resignation
21:49 GMT 07.11.2019 (Updated: 22:16 GMT 07.11.2019) The clothing retailer expects a reduced profit outlook for fiscal 2019 after the company said CEO Art Peck will step down effective immediately.
The biggest US-based clothing retailer did not provide further detail on the reasons for Peck's resignation after serving as CEO since 2015 and working at the Gap for almost 15 years.
The company said, however, that Robert Fisher - a Gap founder and currently the company’s non-executive chairman - will serve as CEO on an interim basis.
Gap's shares plummeted over 9 percent on Thursday on the news of Peck's sudden resignation.
