In a sign it’s serious about yanking Athleta from its doldrums, Gap Inc. has tapped Nike veteran Maggie Gauger to be global brand president and CEO, effective Friday. Gauger has been at Nike for more than two decades, most recently leading the North America women’s business.
She replaces former Alo Yoga executive Chris Blakeslee, who arrived two years ago, after longtime Gap Inc. executive Mary Beth Laughton abruptly left.
It was clear by this past spring that analysts had lowered their expectations of Athleta, though less clear when their patience might run out.
“The Athleta turnaround is definitely taking longer than the market has expected and while we are believers it will turn it may not be in 2025,” Evercore analysts led by Michael Binetti said in a May client note.
The brand has eluded the upswing seen at Gap Inc. since Richard Dickson’s arrival as CEO two years ago, the same week Blakeslee joined. Laughton, also a Nike vet who took the Athleta post in 2019, had herself been working on a turnaround, but left shortly after it became clear that merchandising changes under her watch were falling flat.
Athleta brings on Nike veteran to reboot stalled turnaround | Retail Dive