Gap Stock Slides On CEO Sonia Syngal Exit, Muted Profit Margin Forecast

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The Street

By Martin Baccardax CEO Sonia Syngal will step down as CEO and the struggling casual apparel retailer said current quarter sales would continue to decline. Gap Inc. (GPS) – Get Gap Inc. (The) Report shares slumped lower Tuesday after Sonia Syngal said she will step down as group CEO after only two years and the struggling apparel retailer added current quarter sales would continue to decline. Syngal, who agreed to stay on during a brief transition period, will be replaced on an interim basis by chairman Bob Martin, who has served on the Gap board since 2002. The group also added that Haio Barb…

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