Gap Inc.’s executive vice president and chief financial officer Sabrina Simmons will leave the company at the end of the 2016 fiscal year.
Simmons helped guide the company through financial and brick-and-mortar reengineering as it weathered several difficult periods and downsized the Gap fleet of stores.
“Throughout her 15-year tenure, Sabrina has been one of our most passionate and respected leaders. She was critical in establishing Gap Inc.’s capital structure framework and maintaining operating discipline across the enterprise, both of which have delivered significant value to our shareholders,” said Art Peck, chief executive officer of Gap Inc.
No successor for Simmons was announced.
“Since I assumed the ceo role two years ago, Sabrina has been an instrumental partner in helping the company transition to a new leadership team,” Peck added. “With that period of transition behind us, Sabrina and I agreed that this was an appropriate time for a change in the organization and for her to pursue the next chapter in her career. Sabrina and I will work together to ensure an orderly transition in the coming months. Most of all, I am grateful for her partnership and for all that Sabrina has contributed to Gap Inc.”
Simmons said, “I feel very fortunate to have spent a meaningful part of my career at Gap Inc., and I’ll always be grateful to the Fisher family, to my colleagues, and to my team for the opportunities I’ve had with the company.”
Since joining Gap Inc. in 2001, Simmons progressed through positions of increasing responsibility, from vice president and treasurer to executive vice president. She has been the cfo since late 2007. Most recently, her responsibilities have included all global financial functions, including corporate and brand financial planning and analysis, treasury, risk management, tax, investor relations, controllership, corporate shared service centers and internal audit, in addition to real estate, loss prevention and corporate facilities.