NEW YORK — Gap Inc. has added Meg Whitman, president and chief executive of eBay Inc., and Jim Schneider, senior vice president and chief financial officer of Dell, to its board of directors.

The additions of the two expand the board to 13, nine of whom are independent, as defined by the New York Stock Exchange. All board members are elected annually to one-year terms at the company’s shareholders meeting.

Both Whitman and Schneider will serve on the Gap board’s governance, nominating and social responsibility committee. Whitman also will serve on the compensation and management development committee, while Schneider will be on the audit and finance committee. Whitman is a director of Procter & Gamble, and Schneider is a member of the board of General Communication.

Speaking of the two new directors in a statement, Gap ceo Paul Pressler called Whitman “one of the world’s leading brand builders,” characterized by “focusing on the needs and wants of her customers.”

As for Schneider, Pressler noted how he “helped build Dell’s reputation for credibility and transparency. “We look forward to benefiting from his strategic financial leadership,” Pressler said.

In addition to the appointments, the board also named Bob Martin as lead independent director, succeeding Charles Schwab, who remains on the board. Martin, a director since September 2002, serves on the board’s compensation and management development committee and is chair of the governance, nominating and social responsibility committee.

The board’s independent directors meet in executive session without the presence of management at every regularly scheduled board meeting.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus