Thursday, 8 October 2020

Nancy Green named permanent CEO of Old Navy




San Francisco-based fashion group Gap Inc. confirmed on Thursday that company veteran Nancy Green has been appointed as the permanent president and CEO of the Old Navy brand.

In this role, the executive, who has more than 25 years of experience at the Gap group, will be responsible for overseeing all aspects of the Old Navy business and will report to Gap Inc. CEO Sonia Synga.

Green has served as interim head of Old Navy since March of this year, prior to which she was the brand’s president and chief creative officer.

Before moving to Old Navy in August 2019, Green held the role of president and CEO of the Athleta brand for over six years, during which time she transformed the athleticwear label into a nearly $1 billion business. She was also instrumental in Athleta becoming the first apparel company of its size and scale to achieve B Corp Certification.

Prior to leading Athleta, Green held a range of other management roles at Gap, Inc., including chief creative officer and EVP of Old Navy from 2010 to 2011, and EVP and interim co-leader of the brand in 2012.

During these earlier experiences with Old Navy, the executive oversaw the launch of the brand’s iconic Rockstar jean and Pixie pant, as well as its active business.

Outside of Gap, Green worked as CEO of Shabby Chic from 2007 to 2008 and as EVP and general manager of Pottery Barn from 2003 to 2007.

The graduate of the University of California, Berkeley, also serves on the board of directors of Allbirds and the Gap Foundation board of trustees. She is a council member of the women’s executive leadership organization C200.

“Nancy is a visionary leader who brings deep customer empathy to her role every day,” commented Syngal in a release. “Under Nancy’s purpose-led leadership, the brand has grown a formidable billion-dollar active and fleece business, launched new omni-channel experiences, and doubled down on Old Navy’s promise to welcome everyone through fun, fashion, family and value. I look forward to watching her and the team further grow the brand and its social impact at a time when it matters most.”

The confirmation of Green’s appointment comes as Gap attempts to turn around declining sales caused by the Covid-19 pandemic, efforts in which Old Navy will play a key role.

In the second quarter ended August 1, 2020, the company reported net sales of $3.3 billion, down 18% year over year. Comparable sales, however, rose 13%, led by a 95% increase in online revenues. This digital growth was, in turn, driven by strong performances from Old Navy and Athleta, which posted increases in online sales of 136% and 74%, respectively.

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