Gap Inc. shares slid 2.3% in premarket trade Tuesday, after the company said Gap brand President Jeff Kirwan is leaving the company. A search for a replacement is under way. Brent Hyder, current Gap Inc. executive vice president, global talent and sustainability, will act as interim brand head. Hyder has served as chief operating officer at Gap brand, prior to taking on his current role. Gap shares have gained 36% in the last 12 months, while the S&P 500 has gained 16%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News