SAN FRANCISCO, October 11 /CNW/ - Gap Inc. (NYSE: GPS) announced today
that Jack Calhoun has been appointed president of Banana Republic, effective
immediately. Calhoun, 43, has been serving as interim president since February
2007 when his predecessor, Marka Hansen, was appointed president of Gap North
America. He will continue to report to Gap Inc. Chairman and CEO Glenn Murphy.
"Over the past four years, Jack has established a strong track record
within Banana Republic that's enhanced our accessible luxury brand aesthetic,"
Mr. Murphy said today. "Jack's leadership of the brand, marketing expertise
and merchandising contributions demonstrate that he's the right leader to
build upon the brand's success."
"It's a true privilege to lead Banana Republic and the talented team we
have here," said Mr. Calhoun. "Banana Republic is a strong brand with a great
heritage - and I'm excited to have the opportunity to help the brand realize
its tremendous potential."
Mr. Calhoun joined Banana Republic as executive vice president of
marketing in 2003. In 2005 he was given additional responsibilities for
non-apparel merchandising, including Banana Republic's line of personal care
products and handbag collection. Mr. Calhoun began his career in brand
management with The Procter & Gamble Co. after receiving a bachelor's degree
from Purdue Univ., and an M.B.A. from Harvard Business School.
Separately, the company today announced the departure of Deborah Lloyd,
43, head of design for Banana Republic, effective Oct. 19. While the company
conducts an internal and external search for her replacement, Nick Coe, 45,
senior vice president of merchandising, will temporarily support the design
team during this transition. Mr. Coe joined the company in 2005 as vice
president of men's merchandising and was promoted earlier this year. He served
for more than 20 years in key U.S. and international merchandising roles for
Levi Strauss & Co.
"Deborah has made many important contributions, including leading Banana
Republic's talented and tenured team of designers," said Mr. Calhoun. "I've
personally enjoyed working with Deborah for the past four years, and speak for
our entire team when I wish her well in the future."
About Gap Inc.
Gap Inc. is a leading international specialty retailer offering clothing,
accessories and personal care products for men, women, children and babies
under the Gap, Banana Republic, Old Navy, and Piperlime brand names. Fiscal
2006 sales were $15.9 billion. Gap Inc. operates more than 3,100 stores in the
United States, the United Kingdom, Canada, France, Ireland and Japan. In
addition, Gap Inc. is expanding its international presence with franchise
agreements for Gap and Banana Republic in Asia and the Middle East. For more
information, please visit gapinc.com.
For further information:
For further information: Gap Inc. Investor Relations: Evan Price,
415-427-2161 or Media Relations: Greg Rossiter, 415-427-2360 Tara McCollum,