Gap in crisis mode after CEO becomes latest exec to depart struggling retailer

Struggling retailer Gap (GPS) is in crisis mode ahead of the crucial selling periods of back to school and the holidays, with the stock down nearly 6% in pre-market trading after it revealed the departure of its CEO.

Gap surprised a few on the Street Monday evening after the market close by announcing CEO Sonia Syngal would be stepping down as CEO after a “brief” transition period. In her place, executive chairman Bob Martin will assume the role as interim CEO. Read more at AOL.