Gap President Named Chief Operating Officer
SAN FRANCISCO (AP) _ Gap Inc., continuing the process of realigning its business into divisions, said Wednesday that its president, Millard Drexler, was named the apparel retailer’s chief operating officer.
Drexler will replace the former chief operating officer Robert J. Fisher, who will become executive vice president and chief financial officer.
″We are delighted that we have the management talent and depth to fill the changing needs of our business units by promoting from within our organization,″ the company said in a prepared statement.
The company also announced several other management changes, including naming David M. DeMattei president of the Banana Republic division; Patricia DeRosa president of the GapKids division; Richard M. Lyons president of the Gap division; and William S. Fisher president of the international division.
Jeffrey Edelman, a retail industry analyst with C.J. Lawrence Inc., said the changes reflected the company’s move toward a divisional structure, and did not reflect any discord within Gap.