Austrian parties scrap election events due to floods
Intel gets up to $3 billion from US for national security related chip production
Vista, Blackstone nearing $8-billion deal to buy Smartsheet, sources say
Ecuador's Noboa seeks constitutional change to allow foreign military bases in country
Scania CEO says committed to Northvolt despite cutbacks, delivery issues
Argentina economy forecast to extend recession in second quarter
Tito Jackson, founding member of the Jackson 5, dies at 70
Some people hate Taylor Swift. Some people love her. I just don’t get her.
Bryce Young benched by Carolina Panthers after QB's rough start, AP source says
NEW YORK (AP) — Gap Inc. has tapped American fashion designer Zac Posen as the chain's creative director.
The hire announced on Monday is among the first big personnel moves under the San Francisco-based chain's new CEO Richard Dickson, who took the helm in August and is aiming to turn around years of languishing sales. Dickson had previously been president of toy giant Mattel and was responsible for re-energizing its Barbie and Hot Wheels lines.
Gap also operates stores under Athleta and Banana Republic, Old Navy and its namesake brand.
In a statement, Dickson said Posen's “technical expertise and cultural clarity have consistently evolved American fashion, making him a great fit for the company as we ignite a new culture of creativity across the portfolio and reinvigorate our storied brands.”
Posen, who launched his eponymous collection in 2001 and was known for his glamorous body-hugging gowns, was a red carpet favorite for such stars as Katie Holmes and Rihanna. But the business later struggled and was forced to shut down in 2019.
He'll be executive vice president at Gap Inc. and also chief creative officer for the lower-priced Old Navy chain.
Posen will work closely with Haio Barbeito, Old Navy’s president and CEO, reporting directly to him, the company said.
Gap's shares rose nearly 1%, or 16 cents, on Monday to close at $19.97. They are up 31% in the last 12 months.
