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Gap: shares fall after brand CEO leaves group

(CercleFinance.com) - Gap shares are down over 4% in early trading on Tuesday, after the company announced that Jeff Kirwan, president and CEO of its main Gap brand, will leave the company.

Gap, which also owns other clothing brands such as Banana Republic and Old Navy, said that it has appointed Brent Hyder, the group's executive vice president in charge of talent and sustainability, as interim CEO, with a search for a new president now underway.

Prior to his current role, Hyder served as COO at the Gap brand, the retailer said.

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