Indian-American Sonia Syngal Is Now The New CEO Of Gap Inc

Indian American Sonia Syngal, the chief executive of Old Navy, which is owned by Gap, is all set to take over at the parent company.

According to reports, Syngal will replace interim chief Bob Fisher, a member of the founding family behind Gap, who will also step down as chairman of the company¡¯s board.

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With the new post as the CEO, Syngal has set a precedent in the white-male dominated corporate world. She is now the highest-ranked Indian American female CEO of a Fortune 500 company after Indira Nooyi stepped down as the PepsiCo head in 2018.

Robert Fisher, the son of Gap¡¯s founder who has served as interim CEO while the company looked for a permanent replacement, said that Syngal will ¡°deliver value from our portfolio of brands over the long term."

The company also named Bobby Martin, a Gap board member and former CEO of Walmart Inc.¡¯s international business, to take over as executive chairman.

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The India-born Syngal, moved to Canada and later to the US when she was a child. She has worked in several Fortune 500 companies, including 10 years at Sun Microsystems and six years at Ford Motor Co. before she joined Gap Inc. in 2004, reports TOI. For the uninitiated, GAP owned brands include Old Navy, Banana Republic, Athleta and Hill City.

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¡°It¡¯s an honour to build on this company¡¯s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future,¡± The Indian Express quoted Syngal as saying.

¡°I¡¯m committed to fully realising the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. To do that, we must better prioritise initiatives and capabilities that will improve execution and drive value creation,¡± she added.