Kyle Andrew, vp-marketing, is gone, to pursue other opportunities, as the saying goes.
The day before Andrew left, the president of Gap Adult and one of the top designers for Old Navy also decided that other opportunities were worth pursuing. The same article mentions that:
"Rumors that Gap has hired Goldman Sachs Group to "explore strategic alternatives" fueled an increase in its stock value by as much as 11.4% on Monday.Meanwhile, the Chicago Sun-Times is reporting that Sears Holding Company may buy Gap (the whole thing or pieces of it). We've been hearing lots of rumors about what Sears might be buying, though, and we're not going to hold our breath on this. Eventually, they'll do something (they have lots of cash), but who knows what?