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Gap is divided into two listed companies, with Old Navy as an independent company



  Pedestrians Passing in front of Gap Inc. and Old Navy Inc. shops in the Times Square area of ​​New York.

Mark Kauzlarich | Bloomberg | Getty Images

Pedestrians Passing in front of Gap Inc. and Old Navy Inc. shops in the Times Square area of ​​New York.

Gap Inc. said Thursday it will be split into two independent listed companies – one of just old Navy and then an unnamed company that will include other brands like Banana Republic and Athleta.

Gap Inc.'s current CEO, Art Peck, will remain CEO of "NewCo," Gap said. Sonia Syngal, current president and CEO p to Old Navy, will lead the new freestanding Old Navy Company.

This story is evolving. Please look back for updates.


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