Gap Inc announced that chief financial officer Byron Pollitt, 56, has decided to leave the company to pursue an opportunity in another industry. His last day as chief financial officer will be September 14, 2007.
The company also announced Sabrina Simmons, 44, currently senior vice president of corporate finance and a six-year Gap Inc. finance veteran, is being promoted to the newly-created position of executive vice president of Gap Inc. finance and will serve as acting chief financial officer. Ms. Simmons will report directly to Glenn Murphy, Gap Inc.'s chairman and chief executive officer.
Mr. Murphy said, “On behalf of all of us at Gap Inc., I want to thank Byron for his tremendous contributions to our company. He's played an integral role in restoring the company's financial health and instilling the strong financial discipline across the organization that exists today.”
Commenting on his time with the company, Mr. Pollitt said, “I'm proud of what we've accomplished over the past five years and the financial strength of the company. I am confident the talented team at Gap Inc. will continue to build on the progress that we've made. I wish the company every success in the future.”
Ms. Simmons joined Gap Inc in 2001 as vice president and treasurer. She currently has responsibility for all corporate finance functions including controllership, corporate financial planning and analysis, investor relations, treasury, tax, corporate shared service center, and risk management.
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