From Gap to Dollar General, Retail Chiefs Exit as Challenges Grow - 14 iulie 2022
Many U.S. retailers are opting for new leadership or moving ahead with pandemic-delayed succession plans as the industry adapts to challenges beyond the Covid-19 health crisis.
On Monday, Gap Inc. (US.GPS) replaced Chief Executive Sonia Syngal after more than two years on the job. On Tuesday, Dollar General Corp. (US.DG) said its longtime CEO would step down. Those announcements follow recent exits of the CEOs at companies such as Bed Bath & Beyond Inc., (US.BBBY) athletic-equipment merchant Under Armour Inc. (US.UA) and luxury-consignment seller The RealReal Inc. (US.REAL)
Other companies with executive turnover have struggled for years to reinvent themselves, including Gap and Bed Bath & Beyond. Shares of both companies have tumbled in recent years. Both of them replaced their CEOs with board members while they are looking for new leadership.