Live news: Boeing reports loss as costs outweigh boost from jet … – Financial Times

Gap ends search for new CEO with appointment of top Mattel executive

Alexandra White in New York

US retailer Gap has ended a year-long search for a new chief executive, appointing a top Mattel executive behind the growth of the toymaker’s Barbie franchise to lead the apparel company’s turnaround efforts.

Richard Dickson, Mattel’s chief operating officer, will take the reins at Gap on August 22, the retailer announced on Wednesday. He was appointed to Gap’s board of directors in November 2022.

Dickson will relieve Bobby Martin, who has been interim chief executive since the departure of Sonia Syngal last July. Martin will remain Gap’s chair.

Gap has recently struggled with excess inventory and a slowdown in consumer demand. Last fall, the company also ended a high-profile partnership with Ye, formerly known as Kanye West, that it hoped would generate $1bn in sales.

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