Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.
These departures come amid a slew of recent exits in the retail sector. Under Armour announced in late October that its founder, Kevin Plank, would be stepping down from his position as CEO and becoming executive chairman and brand chief. A few hours later, a similar decision was announced for Nike CEO Mark Parker.
Robert Fisher, Gap's chairman and board member since 1990, will serve as interim CEO. Fisher's parents operated the first Gap store in 1969, and he served as interim CEO in 2007.
"On behalf of the entire Board, I want to thank Art for his many contributions to Gap Inc., spanning a nearly 15-year career with the company," Fisher said in a statement. "Under Art's tenure as CEO, we have made progress investing in capabilities that bode well for the future, such as expanding the omnichannel customer experience and building our digital capabilities."
US business chief Chris Kempczinski took over the CEO role. Some McDonald's franchisees told Business Insider's Kate Taylor that they have clashed with him in the past over costly remodeling and modernization programs. Some franchisees have been more optimistic.
Under Armour announced on October 22 that founder Kevin Plank would be stepping down from his role as CEO following years of slowing sales and reports about the company paying for strip club visits for executives.
Nike announced that former eBay CEO John Donahoe, a member of Nike's board since 2014, would replace Parker.
Donahoe is the president and CEO of ServiceNow, a cloud-computing company based in Santa Clara, California, and the chairman of PayPal Holdings. He was president and CEO of eBay from 2008 to 2015 and the worldwide managing director of Bain & Co. from 1999 to 2005.
Eric Artz, REI's chief operating officer, became interim CEO. Artz previously held leadership positions at Urban Outfitters and VF Corporation, which owns brands like The North Face, Smartwool, and Timberland.
Target's chief merchandising officer, Mark Tritton, replaced Temares. Tritton helped revamp Target stores and introduced more private labels for the brand.
John Eck was appointed president and CEO in May, coming from Rockdale Partners, where he was a senior advisor and consultant for media and emerging technology platforms. Mattress Firm filed for Chapter 11 bankruptcy in October 2018 but reemerged less than two months later.
Heyward Donigan was appointed CEO in August and was chosen for her 30 years of experience in the healthcare industry and her digital shopping technology expertise.