Gap Inc. (GPS) said late Thursday that Nancy Green has been named president and chief executive of Old Navy, the company's largest and most profitable brand. Green will report to Chief Executive Sonia Syngal, who herself was the top Old Navy executive before being promoted to CEO in March. Green has served as interim head of Old Navy since then. Gap had planned to spin off Old Navy into a standalone company but the plans fell through earlier this year. Shares of Gap edged higher in the extended session Thursday after ending the regular trading day up 0.3%.
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