Sodexo Unveils Shift & Grow 2030 Strategy, Targets Over 5% Revenue Growth by Fiscal 2030 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
NY Times Challenges Trump Administration Subpoenas Over Air Force One Report 
SpaceX Eyes Pentagon AI Deal as Cloud Pricing Strategy Pressures CoreWeave 
Trump Threatens Higher Canada Tariffs as Wildfire Smoke Sparks U.S. Air Quality Crisis 
Apple Intelligence China Approval Lifts Alibaba and Baidu Shares 
Netflix Stock Drops After Weak Q3 Outlook Overshadows Mixed Q2 Earnings 
Nvidia Partners With Fanuc and Yaskawa to Accelerate AI Robotics in Japan 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
GameStop Raises eBay Stake to 9.8% as Ryan Cohen Pushes $56 Billion Takeover Bid 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Gap Inc. announced it has tapped a former Mattel executive to be its new chief executive officer. The American clothing and accessories retailer said it hired Richard Dickson, the president and chief operating officer at the toy company known for its Babie and Fisher-Price toy brands.
Gap said on Wednesday, Jul. 26, that it recruited Dickson to be its new CEO as it puts in more effort in increasing its sales again. The company is aiming to make a comeback after a sales slump and eventually recoup its relevancy and presence in the fashion sector.
The apparel manufacturer selected Dickson after a long search that started in the summer of last year. It immediately launched the search after its former chief, Sonia Syngal, vacated her post.
According to CNBC, since Syngal left Gap, the company’s chairman, Bob Martin, took over as interim CEO. He has been leading the organization longer than expected since they did not find the right successor until now.
Martin also told investors during the most recent earnings call that he did not expect to be the interim CEO for a long time. It was revealed that Dickson is also a member of Gap’s board since November 2022.
In any case, the new CEO’s official appointment will take effect on Aug. 22. Richard Dickson is set to leave Mattel Inc. on Aug. 3. His annual base salary for his new job at Gap is said to be $1.4 million.
“Richard has invaluable expertise in areas critical to the work Gap Inc. is doing to strengthen the company for the long term,” Mayo A. Shattuck III, Gap’s board’s lead independent director, said in a press release. “And we are thrilled to have his visionary leadership as the company redefines the future potential of Gap Inc. and its renowned American fashion brands.”
He further said, “On behalf of the Gap Inc. Board and management team, I want to thank Bobby Martin for serving as Interim CEO during this important time, and the teams who have moved quickly to simplify the company’s operating model, increase the speed and quality of decision making, and restore its creative muscle – work that will pay back for years to come.”
Photo by: Gap Press Release
