Gap Inc. has tapped Richard Dickson, president and chief operating officer at toymaker Mattel, to be CEO, effective next month, the company announced Wednesday.
Dickson, who joined Mattel in 2000, led the company’s efforts to breathe new life into its legacy brands in recent years, including Barbie, Fisher-Price and Hot Wheels. His success is most visible than the current domination of the movie Barbie in the box office, which broke records when it debuted over the weekend.
Gap is now hoping that Dickson can replicate his formula to reinvigorate its ailing namesake brand, as well as the rest of its portfolio, which includes Old Navy, Banana Republic and Athleta.
“Richard has invaluable expertise in areas critical to the work Gap Inc. is doing to strengthen the company for the long term,” lead independent director of Gap’s board, Mayo A. Shattuck III, said in a statement.
Bobby Martin, who served as Gap’s interim head after former chief Sonia Syngal exited the company last summer, will go back to serving as chair of the board, the company said.
“[Dickson’s] experience as a proven transformational brand builder and belief in the power of inclusivity, make him a perfect fit for Gap Inc.” Martin said in a statement.
Stay tuned to BoF for updates on this developing story.
