The Gap announced today that Paul Pressler has been pushed out of the organisation as it struggles to find ways to turn the business around. Part of the problems the company is facing is addressed in my previous post: "Mind the Gap?"
I am not surprised by this move as public companies often try to make high-profile leadership changes to signal to the market that they have recognised a problem and are trying to fix it. Whether they actually manage to turn things around, remains to be seen. You can read more about it in today’s WWD – their prognosis for the company’s future is not terribly optimistic.