Gap declined 5% to $31.61 after the clothing chain said the head of its Gap brand will leave the company. Jeff Kirwan, who has been with the company since 2004, had led the namesake brand since the end of 2014. The Gap said Kirwan had failed to achieve "the operational excellence and accelerated profit growth" that the company expected for the brand.

Source: Los Angeles Times February 20, 2018 15:37 UTC