Gap Inc. recruits executive from Los Angeles Clippers team.
Rewritten Article:
Heads are turning at Gap Inc., as the new chief executive, Richard Dickson, bolsters his top team with fresh blood. Two major appointments were announced last Friday, both reporting directly to Dickson, according to a company press release.
First off, Eric Chan, who previously served as the CFO of the Los Angeles Clippers basketball team, has been named as the chief business and strategy officer. Chan steps into the role effective immediately.
Amy Thompson, most recently serving as the head of human resources at Mattel, will take up the role of the chief people officer, starting next week. Thompson and Dickson previously worked together at Mattel, where Dickson held the position of operations chief until his ascent to the CEO seat at Gap Inc. in August.
It seems Dickson isn't messing around with his first hires, even if they hail from the sectors of games and toys rather than apparel. In a statement, he expressed his belief that Chan and Thompson would play a crucial role in reshaping Gap Inc. for a new era. He elaborated that operational excellence would become a vital cornerstone of strength for the company, supported by top-tier talent and a culture that nurtures creativity, thereby paving the way for brand revitalization and cultural relevance.
With more than two decades of financial and operational leadership under his belt, Chan boasts a diverse background that spans Fortune 500 companies to startups. Prior to his five-year stint at the Clippers, Chan served as the COO for The Bouqs Company and the CFO at subscription box retailer Loot Crate.
Thompson, who has returned to Dickson from Mattel, was responsible for human resources there for six years. Before her tenure at Mattel, she served as the chief people officer at shoe brand Toms for approximately five years.
Though there were some signs of progress in Gap and Old Navy's brands in the most recent quarter, Dickson made it clear that Gap Inc. still has a lot on its plate, with significant work needed in both merchandising and marketing across the portfolio. The challenge is particularly evident at Gap, where sales have experienced a steep decline in recent years, and the brand has lost its grip on the cultural conversation. Despite this, Gap's brand awareness remains high, according to Dickson.
Dickson joined Gap Inc. as Mattel's Barbie experienced a comeback during the summer of 2023. Shortly after his arrival, he acknowledged that the recent financial strength at Gap Inc. can be attributed, in large part, to the painful cuts implemented by interim CEO Bob Martin. These cuts included laying off 1,800 employees in April, in addition to 500 layoffs in September of 2022.
- Eric Chan, previously the CFO of the Los Angeles Clippers basketball team, has been appointed as the chief business and strategy officer at Gap Inc., reporting directly to the CEO, Richard Dickson.
- In the arena of business and strategy, Gap Inc.'s new CEO, Richard Dickson, is demonstrating a knack for making surprising yet impressive choices, with his latest pick being someone from the culture of sports.
- Leveraging the power of AI, Chan could potentially revolutionize Gap Inc's business strategies, bringing to the table a blend of experience from Fortune 500 companies and startups.
- Amy Thompson, who has a rich background in fashion-and-beauty, having served as the head of human resources at Mattel and the chief people officer at Toms, is set to bring a fresh perspective to Gap Inc's culture and lifestyle.
- As part of his efforts to reshape Gap Inc for the new era, Dickson is focusing on consistency in finance, appointments, and appointing top-tier talent to drive operational excellence.
- With the recent appointments of Chan and Thompson, both veterans in their respective fields, Gap Inc. is aiming to regain its grip on the cultural conversation, particularly in the apparel market, where it has seen a significant decline in sales.
- In light of the appointments, the new CEO's vision is clear: to revitalize the Gap brand through a blend of operational excellence, a nurturing culture, and top-tier talent, ultimately making strides in both merchandising and marketing across the company's portfolio.
