After a stormy four and half years at the helm of the Gap Inc., Paul Pressler is finally out.

His tenure was marked by declining market share, negative sales comps across the Old Navy and Gap divisions, massive executive turnover, and failed attempts to revive the brands through new marketing ploys and store redesigns.

Chairman Bob Fisher, son of Gap Inc. founder Don Fisher, has been named interim ceo. A search for a successor to Pressler is underway.

For complete coverage see tomorrow’s issue of WWD.

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