Apparel group Gap makes change in International division
10 Feb '06
2 min read
Apparel retailer Gap Inc has announced that Andrew Rolfe, the President of the company's International division, has decided to leave the company effective February 17.
Paul Pressler, President and CEO of Gap Inc, said, "Now that we have built a strong, more decentralized International organization, Andrew feels it's the appropriate time for him to take on new challenges."
"I want to thank Andrew for his many contributions," Paul added.
Since 2004, the International division has shifted to a new business model moving key functions, such as merchandising and marketing, into local markets and building a dedicated International product design and development team. The unit also has successfully launched Banana Republic in Japan and established an International franchise business.
"We've made tremendous progress in building our international infrastructure over the past two years. International expansion continues to be a key component of our company's long-term growth strategies," said Pressler.
Rolfe, 39, has accepted a senior position with TowerBrook Capital Partners LP, a private equity firm.
The company does not intend to replace Rolfe. Business units in Europe and Japan will report to Pressler.
Gap Inc is a leading international specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy and Forth & Towne brand names. Fiscal 2004 sales were $16.3 billion.
Gap operates about 3,000 stores in the United States, the United Kingdom, Canada, France and Japan.
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