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StumbleGap CEO announces retirement
Wednesday, May 22, 2002 | 9:54 a.m.
SAN FRANCISCO -- Troubled clothing retailer Gap Inc. will be looking for a new chief executive.
President Millard "Mickey" Drexler on Tuesday announced plans to retire as CEO in a decision that raised new questions about the company's future.
Drexler, who has made more than $50 million since becoming Gap's CEO in 1995, dropped the bombshell after the San Francisco-based company's quarterly board of directors meeting. He will remain president and CEO until Gap finds a replacement -- something the board hopes to do this summer, Gap Chairman Donald Fisher said.
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