Gap Inc. was known for its female leadership, but it has now appointed two male CEOs.

Gap Inc. was known for its female leadership, but it has now appointed two male CEOs.

The Rise and Challenges of Male CEOs at Gap Inc. and Athleta

In a surprising turn of events, Gap Inc. has appointed Richard Dickson and Athleta has appointed Chris Blakeslee as their new CEOs, both of whom are men. This decision marks a departure from the company’s recent focus on women’s leadership and serving its female customer base. Previously, Gap Inc. was led by CEO Sonia Syngal and Athleta was helmed by CEO Mary Beth Laughton, both women who played influential roles in their respective companies.

Richard Dickson, a former Mattel executive who successfully turned around the Barbie franchise, is set to lead Gap Inc., while Chris Blakeslee, the former president of popular brand Alo Yoga, will take the reins at Athleta.

However, the vacancies left by Syngal and Laughton have stirred discussions about the lack of female representation in top leadership roles. Syngal’s departure is notable for those who advocate for greater diversity among Fortune 500 leaders, as she was one of the few women of color leading such a company. The retail sector, typically a prominent source of female CEOs, has also seen the departure of several women leaders in recent years.

The turnover in CEOs reflects the challenges faced by the retail industry. Gap Inc., in particular, has been struggling, with its Gap and Banana Republic brands experiencing declining sales. In 2022, Gap brand sales plummeted by 40% compared to a decade ago. Athleta, despite being a bright spot for the company, has also faced difficulties, as it competes in the competitive athleisure market.

Taking on these formidable challenges, Dickson and Blakeslee have a tough road ahead. However, their past successes in leading female-focused brands demonstrate their capabilities. It is worth noting that it is rare to see a company appoint two female CEOs in succession, making the new hires at Gap Inc. and Athleta even more significant.

• Workday’s chief trust officer emphasizes the importance of pr...
• ANBLE Economic Forecasts Travel Trends – Rent Airline Clothes...
• India regulator seeks to limit retail investors’ derivatives ...

The need for a strong pipeline of diverse talent to support female leaders in the C-suite is an ongoing concern. While examples of companies appointing consecutive female CEOs exist, such as Xerox, Avon Products, and Reynolds American, they serve as exceptions rather than the norm. Building a diverse talent pool is crucial to achieving greater gender equality and inclusivity in top corporate positions.

While Gap Inc.’s CEO vacancies could have provided an opportunity to bolster female representation in the Fortune 500 universe, it is important to acknowledge that simply achieving gender diversity without considering qualifications would be akin to a “glass cliff” scenario. The focus should be on finding the most capable leaders, regardless of gender, who can navigate the challenges faced by female-focused brands in the retail industry.

In other news, Twitter CEO Linda Yaccarino is making efforts to bring more stars to the rebranded platform, Waymo is shifting its focus to ride-hailing under co-CEO Tekedra Mawakana’s leadership, and Bloom Money, a U.K.-based fintech company, has raised £1 million to provide banking solutions that can help communities of color avoid discrimination.

Italian Prime Minister Giorgia Meloni’s visit to the White House attracted attention due to her far-right politics, but there is common ground between her and the Biden administration regarding support for Ukraine.

Lastly, the Women’s World Cup in Australia highlights how employers respecting and empowering working moms can lead to success. The U.S. Women’s National Team’s progress serves as an example, with U.S. Soccer providing six months of paid parental leave and fully-funded childcare during training and competitions.

As we celebrate the progress made towards gender equality, it’s essential to recognize that there is still work to be done. By embracing diversity and fostering a supportive environment, we can pave the way for more women to succeed in leadership positions.

Emma [email protected]@_emmahinchliffe

The Broadsheet is ANBLE’s newsletter for and about the world’s most powerful women. Subscribe here.

ALSO IN THE HEADLINES

• Twitter goes Hollywood. Twitter CEO Linda Yaccarino spent much of the past week in Hollywood, pitching agents and execs on the future of “X.” She’s attempting to bring more stars back to the rebranded platform. (Financial Times)
• Ready to ride. Waymo, led by co-CEO Tekedra Mawakana, is pivoting away from self-driving trucks and focusing on ride-hailing. The Alphabet business isn’t abandoning trucking entirely but will prioritize passenger transit. (TechCrunch)
• Money moves. U.K.-based fintech company Bloom Money has raised £1 million to apply technology to “rotating savings and credit association,” benefiting communities of color to avoid discrimination in traditional banking. CEO Nina Mohanty highlights the platform’s potential to promote financial inclusion. (TechCrunch)
• At the White House. Italian Prime Minister Giorgia Meloni met with U.S. President Joe Biden at the White House, sparking some controversy due to Meloni’s far-right politics. However, both leaders found common ground in their support for Ukraine. (PBS Newshour)

IN CASE YOU MISSED IT

• Moms in action. The Women’s World Cup is currently taking place in Australia, and the success of the U.S. Women’s National Team highlights the importance of employer support for working moms. U.S. Soccer now offers six months of paid parental leave and fully-funded childcare during training and competition. (Washington Post)
• Find my friends. Bumble, the popular dating app, is launching a standalone app for building platonic relationships. Previously, Bumble offered a “BFF mode” within its main service, but now users can use a dedicated app for finding friends. (TechCrunch)
• Pay up. Black Women’s Equal Pay Day symbolizes the amount of time Black women in the U.S. need to work into the new year to earn what white men earned in the previous year. It highlights not only the wage gap but also the impediments to upward mobility for marginalized communities. (ANBLE)

ON MY RADAR

• Who will stand up for the hair braiders? (Harper’s Bazaar)
• Steve Wynn agrees to stay out of Nevada’s gambling industry (Wall Street Journal)
• Ann Roth is Hollywood’s secret weapon (New York Times)

PARTING WORDS

“We can’t change history, but we can and will change the way history is told.”

—Penny Pritzker, former commerce secretary and chair of the Smithsonian American Women’s History Museum’s Advisory Council. The museum partnered with the U.S. Mint to bring five new women—Rev. Dr. Pauli Murray, Patsy Takemoto Mink, Dr. Mary Edwards Walker, Celia Cruz, and Zitkala-Ša—to U.S. quarters in 2024.