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Gap Year

Can Richard Dickson, the newly empowered C.E.O. of Gap, succeed where every other leader has failed by cleaning house? “That’s the only thing that can save the company,” says one former executive. “Fire everyone and bring new people in.”

Richard Dickson
It’s too early in Richard Dickson’s tenure as C.E.O. of Gap Inc. to present plans for each of its brands, but it isn’t too early for him to make executive changes. Photo: EuropaNewswire/Gado/Getty Images
Lauren Sherman
November 16, 2023

Richard Dickson had an advantage, this past July, when he was named C.E.O. of Gap Inc. the company that owns Gap, Banana Republic, Old Navy, and Athleta. Unlike most C.E.O.s, who spend their first 90 days just trying to understand what exactly they’ve gotten themselves into, Dickson had already been a member of the board since November 2022, eight months earlier, which gave him special insight into the company’s challenges, and, some would say, opportunities.