Mattel's stock slipped 1%. Dickson, who joined Mattel over two decades ago, revived the Barbie brand by adding more diverse fashion dolls and in his current role was also responsible for franchise management. Insider Sonia Syngal stepped down as the company's CEO last July after a tenure marked by fashion missteps at the Old Navy brand, supply chain snarls and decades-high inflation that derailed a potential sales recovery following the pandemic. Gap previously shelved plans to spin off Old Navy, citing higher costs and the complexity involved. "The new CEO needs to focus on how to help figure out what the Gap brand represents and how to maintain the brand equity," said BMO Capital Markets analyst Simeon Siegel.

Source: Wall Street Journal July 26, 2023 12:37 UTC