Shares of Gap stock rallied around 12 percent on Aug. 27, as the clothing company brought in Michael Francis as the new CEO for its Old Navy brand.
The San Francisco-based company, whose stock has slipped over 17 percent since the start of the year, on the same day posted its Q2 earnings, which the company said missed expectations.
In announcing the leadership change, Gap President and CEO Richard Dickson said in a company statement: “Michael is one of the most respected commercial, brand, and customer leaders in retail. His experience building iconic brands, cultivating customer connections, and driving transformation at scale will help Old Navy strengthen its relevance, accelerate growth, and deliver even greater value for customers.”…