In The Robin Report, Robin Lewis wonders about the lack of experience in the apparel industry at the top of Gap’s organizational chart. He writes:
I was reluctant to write this article, only because I was getting kind of bored being TRR’s Chief Critic Officer railing against Gap Inc’s serial selection of five CEOs over roughly the past two decades. None of those executives had experience in apparel retailing, despite the fact that such experience was a key qualifier for the top job.
Gap Gone
So, while Gap Inc.’s overall business (across its four major brands) following the exit of Mickey Drexler was stuck in neutral year in and year out, I coined the narrative that each of these five picks was part of Gap’s “Hail Mary” pass strategy. My most recent Gap critique was on the hire of Richard Dickson. And if you’re really interested in Gap’s unfortunate history, just key in Gap in our search bar and you will discover a series of articles covering the decades-long series of one leadership failure after another trying to reignite their brands.
BR Failed Passes
I don’t know how these most recent leadership decisions got by me. In 2020 CEO Mark Breitbard of Banana Republic left that role after three years and was named president and CEO of Global Gap Brand, Franchise, Strategic Alliances and Licensing. Honestly. I’m not quite sure this long list of responsibilities is going to make a difference.
During the same period, Gap Inc. replaced Breitbard with Sandra Stangl who came from a successful string of management positions in major home furnishings and furniture retailers and brands. Known as a strong creative leader delivering design vision, brand expansions, and financial results during her 23 years at Williams Sonoma, Stangl held numerous leadership positions including President, Pottery Barn Brands and launched two iconic brands — Pottery Barn Kids and Pottery Barn Teen.
Stangl was also President, Chief Merchandising and New Business Development Officer for Restoration Hardware where she led new assortments, inventory, and quality strategies enhancing the customer experience. Most recently, she co-founded and was Chief Merchant of MINE, a disruptive pure-play home business.
I have noted her career because it indicates that Stangl is obviously a very successful and tenured leader in the home space. But here’s the rub. The five “Hail Mary” quarterbacks for Gap Inc. were also successful in their non-apparel spaces: #1 Pepsi-Cola, #2 a Canadian drugstore, #3 a consultant, #4 a global supply chain expert, and #5 toys.
Stranger and Stranger
But wait! Stangl has had the corner office at BR since 2020. However, another hire by Gap Inc. is a real head-scratcher. Two years ago, Gap Inc. hired Asheesh Saksena as Chief Strategic Growth Officer. He joined Gap Inc. to assess value creation opportunities to ensure consistent growth across the enterprise, including its brands. Previously he served as President of Best Buy Health where he led the formation and operation of the brand’s strategic diversification into Digital Health. During his time with Best Buy, Saksensa helped expand the company’s addressable market and incubated new platforms for growth. Prior to Best Buy, he led strategy and growth at Cox Communications, Time Warner Cable, and as a Partner at Accenture.
Are you seeing a pattern here?
So, we now have the top dog of the entire Gap Inc. enterprise, CEO Richard Dickson, with his primary experience in toys; a new CEO of Banana Republic, whose career experience has been in the “home” industries, Sandra Stangl; and a corporate Chief Strategic Growth Officer, Asheesh Saksena, whose experience has mostly been in electronics, Cable TV and as a partner in a major consulting firm and communications. Just to repeat, all three gained their career expertise outside the apparel retail sector. And dramatizing all these C-suite shuffles, the #4 “Hail Mary” Gap Inc. CEO Sonya Syngal left following a very brief and bumpy two years at the helm.
Curiouser and Curiouser
What in the world is going on here? Is this an intentional mess and seemingly undisciplined throw-anything-at-the-wall-and-see-what-sticks approach? Or is this an intelligent strategic shift playing out?
Read more here.
