Gap CEO steps down
Gap says CEO Art Peck is stepping down as the company continues to grapple with slumping sales. Peck, who has been CEO since 2015, will be temporarily replaced by Gap’s nonexecutive chairman of the board Robert Fisher. Peck will also step down from the Gap’s board. The company is in the midst of splitting into two publiclytraded companies, one for its Old Navy brand and another for the Gap, Banana Republic and its other brands.