Gap Inc (NYSE:GPS) Executive Vice President and CFO Sabrina Simmons is planning to leave the company.
CFO Sabrina Simmons will be leaving Gap Inc at the end of its fiscal year for 2016. She joined the company in 2001, but it wasn’t until 2007 that she took on the role of GPS’ CFO. No reason was given as to why the CFO is leaving the company.
According to Art Peck, CEO of Gap Inc, he and CFO Sabrina Simmons agreed that it was time for “a change in the organization and for her to pursue the next chapter in her career.” Simmons hasn’t said what her plans are for after she departs GPS.
“I feel very fortunate to have spent a meaningful part of my career at Gap Inc., and I’ll always be grateful to the Fisher family, to my colleagues, and to my team for the opportunities I’ve had with the company,” Gap Inc CFO Sabrina Simmons said in a statement.
Gap Inc CFO Sabrina Simmons is staying on until the end of the company’s fiscal year to ensure a smooth transition for her successor. The company hasn’t announced who will be taking over Simmons roles after she leaves it.
CFO Sabrina Simmons will continue to be employed at Gap Inc until its fiscal year ends on Feb. 1, 2017. However, she will step down from her roles prior to that. It’s unknown when a successor will be named to take over her roles for her.
GPS stock was down 4% as of Noon Thursday.
