// Gap CMO Alegra O’Hare leaves after less than a year at the business
// CEO Art Peck stepped down in November and shares have dropped 25% since
// O’Hare had previously spent over a decade at Adidas
Gap chief marketing officer Alegra O’Hare has stepped down after spending less than a year in the role.
The resignation follows a strenuous year for the retailer. In May, Gap’s shares plummeted 28 per cent after reporting low first-quarter earnings.
Its shares dropped a further 25 per cent following chief executive Art Peck’s decision to leave the business in November.
Chairman of the board Robert Fisher replaced Peck as interim president and chief executive.
O’Hare was previously the vice president of global brand communications at Adidas, where she spent over 10 years, before joining Gap in February last year.
Earlier this month, Gap ditched its plans to separate its subsidiary Old Navy from the rest of the group – which includes Gap, Old Navy and Banana Republic.
Despite first revealing plans to break up the fashion group last year to “revitalise” the company, resulting in 230 store closures worldwide, the US retailer said the “cost and complexity” of the plans were not worth pursuing.
Moreover, Gap’s head of brand Neil Fiske will also be stepping down just two months after Peck left the business.