Gap Inc. (NYSE: GAP) announced the appointment of Michael Francis as President and Chief Executive Officer of Old Navy, effective November 2, 2026. Francis will succeed Haio Barbeito, who is moving into an advisory role.

Francis joined Gap Inc. in March 2026 as Chief Customer Officer of Old Navy and Head of Marketing Shared Services. He previously spent 26 years at Target, where he served as EVP and Chief Marketing Officer for over a decade. He also held roles at DreamWorks Animation and JCPenney, and served as a strategic advisor to Walmart's executive team and board for approximately 10 years.

"Old Navy is poised for its next chapter of growth, and Michael is uniquely equipped to step into this operating role," said Richard Dickson, President and CEO of Gap Inc.

Francis said he is "honored to lead this incredible team" and cited plans to sharpen customer focus, strengthen brand relevance, and enhance the customer experience.

Dickson noted that since the start of Gap Inc.'s broader transformation, Old Navy has grown its annual revenue by nearly $500 million.