---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-22-000056"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2022-07-11T23:59:59+00:00"
generated_at: "2026-06-24T17:50:14.501866+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Gap CEO Sonia Syngal steps down; Bob Martin interim CEO; Q2 margin guidance turns negative

## Summary
- Sonia Syngal resigns as CEO and Board director effective July 11, 2022; Bob Martin named interim CEO.
- Horacio Barbeito appointed Old Navy President & CEO effective Aug 1, 2022; previously CEO of Walmart Canada.
- Q2 FY2022 net sales expected to decline high-single digit %; adjusted operating margin now zero to slightly negative.
- Company anticipates $50M transitory air freight expense and increased promotional activity pressuring gross margin.
- Q2 FY2022 final results to be reported on August 25, 2022.

## SEC filing metadata
- accession: 0000039911-22-000056
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2022-07-11T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991122000056/0000039911-22-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991122000056/gps-20220711.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-22-000056
- JSON: https://secwatch.observer/filing/0000039911-22-000056.json
- Plain text: https://secwatch.observer/filing/0000039911-22-000056.txt

## Key facts
- Executive change
  Bob Martin was appointed as Interim Chief Executive Officer at GAP INC.
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: Executive Chairman Bob Martin will serve as Interim Chief Executive Officer and Mayo Shattuck will continue to serve as lead independent director of the Company’s Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000003991122000056/0000039911-22-000056-index.htm
- Executive change
  Sonia Syngal departed as President and Chief Executive Officer at GAP INC.
  - Action: stepping down
  - Role: President and Chief Executive Officer
  source text: On July 11, 2022, The Gap, Inc. (the "Company") issued a press release (the “Press Release”) announcing that Sonia Syngal is stepping down from her position as President and Chief Executive Officer of the Company, and has resigned from the Company’s Board of Directors, both effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000003991122000056/0000039911-22-000056-index.htm

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