• by Sarah Mahoney  @mahoney_sarah, May 7, 2024

Executive changes are speeding up at Gap Inc., with PepsiCo’s Fabiola Torres signing on as global chief marketing officer. Currently senior vice president and CMO of PepsiCo’s energy drinks, Torres has also held key marketing roles at Apple and spent almost 20 years at Nike.

Women’s Wear Daily first broke the story. A Gap spokesperson tells Marketing Daily that Torres will oversee marketing at the Gap division.

WWD quotes an internal memo from Mark Breitbard, president and CEO of the Gap brand, calling Torres “a leader who can navigate transformation, build brands that shape culture and lead with purpose,” citing her experience in launching Mountain Dew Energy and Rockstar Focus, as well as her work at Apple’sBeats by Dre and as head of global sneaker culture at Nike. “She’s a leader who deeply understands how to reach a globally diverse audience with relevance.”

It’s the latest in a series of changes since Gap Inc.’s president and chief executive officer Richard Dickson joined the Gap from Mattel in August, making critical changes in each of the company’s divisions.

Last week, Sandra Stangl stepped down as president of Banana Republic.

Earlier this year, Dickson surprised fashionistas everywhere by appointing designer Zac Posen as executive vice president, creative director of Gap Inc., and chief creative officer at Old Navy.

Dickson has been outspoken about hoping to reinvigorate marketing. He has pointed to the Gap’s current campaign, which includes dance-alicious ads for its linen collection starring Tyla, the South African pop sensation, as an example of how it intends to reignite the brand.

Dickson also put the company’s media account in review. Gap reportedly spends $190 million a year on media.

While Torres isn’t spilling the beans yet, she did update her LinkedIn profile to confirm her departure. “After 4 years at PepsiCo, I’ve decided to leave to embark on a new journey,” she wrote. “This company has taught me a lot in a short period, the industry, the category, our brands…and our always evolving consumer.”

Gap Inc.’s most recent quarterly results, released in March, revealed progress at Old Navy, the largest division, where sales gained 6% to $2.29 billion for the quarter, and at Gap, where sales fell 5% to $1.01 billion. However, when the impact of the sale of Gap China is factored in, Gap sales would have risen 3%.

At Banana Republic, in the fourth quarter, net sales dipped 2% to $567 million, falling 4% on a comparable basis. And at Athleta, once considered one of the company’s most promising banners, quarterly sales declined 4% to $419 million, with comparable sales tumbling 10%.