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January 23, 2007
Gap Seeks Direction As CEO Steps Down
Gap said goodbye to CEO Paul Pressler on Monday after both the board and Pressler agreed that it was time or him to step down. The move follows 24 months of sluggish sales at the apparel retailer due to a reported lack of direction on merchandise decisions.
The San Francisco-based chain said that it will be looking for a retail expert to lead it and may also consider a possible sale.
Posted by Blacks on January 23, 2007 09:46 AM
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