Gap furnished Neil Fiske president and CEO of its Gap brand, the clothing company announced on Wednesday. Fiske intention assume his new role on June 20.
“Neil brings significant retail and dress experience to Gap Inc. and a track record of transforming and repositioning brands,” Gap President and CEO Art Peck commanded in a statement.
Gap brand has struggled in recent years, while the company’s Old Argosy brand has been growing. In fiscal first quarter, same-store tradings at Gap stores globally fell 4 percent, flat from a year ago.
Fiske longing join Gap from Australian clothing brand Billabong, where he has served as CEO of Billabong Universal. There he helped the Billabong brand return to a position of multiyear pay out growth. He has also served in executive roles at Eddie Bauer and Bath and Fuselage Works.
“[Fiske] is an experienced leader who deeply understands the mechanics of this vocation, the value of an omnichannel strategy, and the need to build a progressive and relevant brand. I confidence in Neil is the right leader to strengthen Gap brand,” Peck said in a declaration.
Fiske’s appointment is the latest move by the company to update and cut back, as retailers look out on increasing competition from Amazon. The e-commerce giant is positioned to fit the No. 1 clothing retailer in the U.S. this year.
Shares of Gap, which also owns such identifies as Banana Republic and Athleta, are down 1.39 percent year to obsolescent and 6.58 percent year over year.