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Gap Inc

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Michael Francis named CEO of Old Navy as Gap seeks affordability push

Gap Inc. has appointed retail veteran Michael Francis to lead Old Navy, its largest brand by revenue. Francis previously helped shape Target's low-cost, design-forward strategy in the 2000s, and Gap is betting his experience can revive Old Navy at a moment when shoppers are especially price-sensitive.

fastcompany.com · 2026-08-28

Gap names Michael Francis new Old Navy CEO as shares jump 16%

Gap Inc. announced that customer chief Michael Francis will replace Haio Barbeito as Old Navy's CEO starting in November, part of an ongoing effort to revive the struggling brand. The announcement came alongside Gap's mixed second-quarter results, which beat earnings estimates but missed on revenue, sending shares up more than 16% in after-hours trading.

cnbc.com · 2026-08-28