New CFO Takes the Helm at The Gap

The California-based retail chain will start fresh next year with Teri List-Stoll as executive VP & CFO.
Teri List-Stoll
Teri List-Stoll

San FranciscoGap Inc. will start the new year with a new executive vice president & CFO at the helm. Teri List-Stoll will take on the role in January 2017, and will report to Gap Inc. CEO Art Peck. List-Stoll will be replacing Sabrina Simmons, whose departure from the company was announced earlier this month, and will oversee the company’s global finance operations, as well as the loss prevention and corporate administration divisions.

“Teri is a seasoned finance leader with more than three decades’ experience, including top leadership positions at global consumer goods companies,” said Peck in a statement. “As we remain focused on accelerating our transformation, Teri’s expertise will help us drive our long-term financial objectives and continue our commitment to long-term shareholder value.”

List-Stoll’s most recent position was that of executive vice president & CFO for Dick’s Sporting Goods Inc., a position she left last August. Prior to that, she served in various senior finance roles, including CFO for Kraft Foods Group, The Procter & Gamble Co., and Deloitte & Touche LLP. List-Stoll serves on the board of directors and audit committees for Microsoft and Danaher, is a CPA, and holds a B.A. in Business Administration from Northern Michigan University.

Back in 2011, Gap Inc. announced plans to close down 189 U.S. retail stores by the end of 2013, a result of declining sales numbers over the previous years. In April 2016, the company announced that even more locations would be shut down, after reporting comparable sales had fallen 3 percent in March, according to Fortune Magazine. But The Gap isn’t the only major retail company having a hard time keeping up sales volume. Macy’s has also announced plans to close 100 retail stores in early 2017, and focus on better-performing assets and a stronger digital presence.

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