Gap Names Brand CEO

Gap (San Francisco) announced that it has named Neil Fiske as the new President and Chief Executive Officer for its namesake brand. Fiske will assume the position on June 20.

Most recently, Fiske was CEO for Billabong (Burleigh Heads, Australia), where he helped propel the brand to year-over-year growth. He has also worked in executive roles for Eddie Bauer (Bellevue, Wash.) and Bath and Body Works (Reynoldsburg, Ohio).

The company hopes that he will help strengthen the Gap brand, which, according to CNBC, has struggled in recent years. For instance, in its most recent fiscal quarter, same-store sales for the brand were down 4 percent, which is the same drop as a year ago.