Gap Inc. strengthens management with two new appointments

By

Benjamin Fitzgerald

Published
Jan 15, 2024

Gap Inc. has announced the appointment of Eric Chan as chief business and strategy officer, effective January 12, and Amy Thompson as chief people officer, effective January 22.

Both leaders will join Gap Inc.'s executive leadership team and report to Gap Inc. president and chief executive officer, Richard Dickson.

Chan boasts more than 20 years of financial and operational leadership experience, the executive most recently as CFO of the LA Clippers. Prior to that, he served as COO for The Bouqs Company, after serving as CFO for Loot Crate, where he helped scale the company from a startup to $165 million in revenue.

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Thompson brings 25 years of experience leading cultural change for an array of companies. She most recently served as chief people officer at Mattel, and before that as chief people officer at Toms, and in HR executive roles at Starbucks and Ticketmaster. 

"Eric Chan and Amy Thompson will play a critical role in solidifying our foundation as we redefine Gap Inc. for a new era – one where operational rigor becomes a consistent cornerstone of strength for us, bolstered by best-in-class talent and a culture of creativity – all paving the way for brand reinvigoration and cultural relevance," said Dickson.

In its most recent trading update in November, Gap Inc. reported third-quarter profit that exceeded forecasts and a smaller-than-expected drop in comparable sales.

Adjusted earnings of 59 cents a share were triple the average analyst estimate, thanks in part to fewer promotions and better managed inventories.

While same-store sales fell for a fourth consecutive quarter, the decline was less than expected as stronger results at Old Navy, which is Gap’s biggest brand, offset weakness at Athleta and Banana Republic.