---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-22-000019"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2022-04-21T23:59:59+00:00"
generated_at: "2026-06-26T05:53:01.225192+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Gap Inc. updates Q1 outlook to low-to-mid teens decline; Old Navy CEO Nancy Green departs

## Summary
- Nancy Green exits as Old Navy President/CEO effective May 1, 2022; external search underway.
- Gap Inc. CEO Sonia Syngal will oversee Old Navy during transition.
- Q1 net sales guidance cut to low-to-mid teens YoY decline from prior mid-to-high single digit.
- Company taking more aggressive promotional actions primarily at Old Navy.
- Full fiscal 2022 guidance to be updated with Q1 earnings on May 26.

## SEC filing metadata
- accession: 0000039911-22-000019
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2022-04-21T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991122000019/0000039911-22-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991122000019/gps-20220418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-22-000019
- JSON: https://secwatch.observer/filing/0000039911-22-000019.json
- Plain text: https://secwatch.observer/filing/0000039911-22-000019.txt

## Key facts
- Executive change
  Nancy Green departed as President and Chief Executive Officer of Old Navy at GAP INC.
  - Action: leaving
  - Role: President and Chief Executive Officer of Old Navy
  source text: Nancy Green, a named executive officer of The Gap, Inc. (the “Company”), will be leaving her role as President and Chief Executive Officer of Old Navy.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000003991122000019/0000039911-22-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.