Stefan Larsson, a 15-year veteran of H&M, will become the first global brand president for Old Navy in October.
Parent company Gap Inc. has created the new position because it’s orchestrating an international roll out of the $5 billion, 12-year-old Old Navy chain starting with Japan in July. Old Navy currently operates in North America only, and is being led by Nancy Green, executive vice president and chief creative officer, and Tom Sands, executive vice president of stores and operations. Tom Wyatt served as president until resigning in January to enter the education field.
Larsson was instrumental in H&M’s expansion from about $3 billion to $17 billion and from 12 to 44 countries by leading real estate, store design and store construction. Larsson most recently was head of global sales for H&M.