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Departure of Marka Hansen from Gap
Feb '11
Gap Inc announced that Marka Hansen will step down as president of Gap North America and will leave the company, effective February 4.

“Marka has been one of Gap's most passionate champions for 24 years, leaving a strong imprint on the company as a highly-respected leader, talented merchant, and mentor to many,” said Glenn Murphy, chairman and CEO of Gap Inc. “During the last four years, Marka has put many foundational pieces in place such as 1969 denim and our new store design -- that should provide a springboard for the future.”

“After several conversations, Marka and I agreed this was the right time for a change in the organization in order to take Gap brand to a new level. I am grateful for all that Marka has contributed to the company,” Murphy added.

After starting as a Banana Republic merchant in 1987, Hansen grew to hold top merchandising roles at both Banana Republic and Gap, as well as in the International division when the company prepared to open in Europe and Japan. She also served as president of Banana Republic starting in 2003, before assuming the role of president of Gap North America in 2007.

Hansen said, “I'm proud of being so much a part of the Gap family, and I'll always be grateful to Doris and Don Fisher for giving me the chance to build my career here. Gap will remain a large part of me, and I'm confident the brand will become stronger going forward.”

The company has identified an internal successor to Hansen, who will be announced in the next day. Further, the company stated that it is comfortable with the current First Call consensus for fiscal year 2010 EPS. Per its usual practice, the company will comment on its earnings outlook more specifically as part of the January sales report on Thursday, February 3.

Gap Inc

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