Gap Inc. appointed Kneeland C. Youngblood, the co-founder and managing partner of Pharos Capital Group LLC, to its board. Pharos is a Dallas private equity firm providing growth and expansion capital, primarily in health care, business services and applied technology.

“We are very pleased to add a director who brings the perspective of an experienced professional investment manager and deep business experience,” said Bob L. Martin, chairman of the board’s governance, nominating and social responsibility committee. Youngblood, 50, will serve on that committee and the audit and finance committee. Gap now has 13 directors, including nine who are independent. Last October, Youngblood was listed among the “75 most powerful African-Americans on Wall Street” by Black Enterprise magazine. “We look forward to Mr. Youngblood’s contributions as Gap Inc. takes the next steps in executing our turnaround strategies,” Martin said.

This story first appeared in the December 1, 2006 issue of WWD.  Subscribe Today.