Banana Republic president to step down
The company has begun a search for Owen’s successor. In the meantime, Banana Republic will be directly overseen by Gap Inc. chief executive Art Peck.
Commenting on the news, Peck said: “Andi has been an accomplished leader at Gap Inc. playing a number of key roles across Banana Republic, Old Navy and Gap. I am grateful for her partnership and for Andi’s many contributions to the company during her 25-year tenure.”
Since joining Gap Inc. in 1991, Owen has held a wide variety of leadership roles at the company, including executive vice president and general manager for Gap Global Outlet and senior vice president and general manager for Banana Republic Factory Stores.
Peck added: “During her time with Banana Republic, Andi led critical work improving the brand’s aesthetic and product quality and moved the brand to a full omni-channel assortment. While these improvements have been important steps forward, we have significant work to do in order to consistently win with customers. Andi and I agreed that now was an appropriate time for a change in leadership.”
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