GAP Selects Mattel Executive to Become New CEO

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Gap has chosen Mattel executive Richard Dixon to be its next chief executive. This election ends a year long search that started after Gap's previous CEO left the company last summer. Dixon is currently Mattel's president and coo and has been a member of Gaps Board since last November. So apart from the current role on August 3rd, he'll start the new role at Gap on August 22. And the leadership change comes as Gap is working to overcome a recent dip in sales.