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Article: Gap chairman is leaving post

Article from:
Deseret News (Salt Lake City)
Article date:
December 10, 2003
Author:
Copyright

SAN FRANCISCO -- Gap Inc. founder Donald Fisher said Tuesday he is stepping down as chairman of the retailing icon that he started 34 years ago as a frustrated shopper trying to find a better-fitting pair of jeans.

Fisher, 75, will relinquish the chairman's title to his son Robert, a former Gap executive, after the San Francisco-based company's annual meeting in May. He intends to remain on the board as chairman emeritus and continue to advise Gap's chief executive officer, Paul Pressler, whom Fisher recruited in 2002 to lift the company out of a funk.

The shake-up has paid off so far. The company ended a 29-month- long sales slump shortly after Pressler's arrival and has now increased its ...

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