Gap Shares Slump After CEO Art Peck Announces Resignation

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The clothing retailer expects a reduced profit outlook for fiscal 2019 after the company said CEO Art Peck will step down effective immediately.

The company said, however, that Robert Fisher – a Gap founder and currently the company’s non-executive chairman – will serve as CEO on an interim basis.

Gap’s shares plummeted over 9 percent on Thursday on the news of Peck’s sudden resignation.

Sourse: sputniknews.com

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