Paul Pressler was fired as CEO of Gap (GPS). He started at the company in September 2002.
Over the last five years, almost all under Pressler, Gap stock has outperformed the S&P, by a fair amount. While the S&P is up about 30%, Gap is up nearly 40%.
Oddly enough, GE (GE) stock is flat during that period. But, their CEO gets to keep his job. IBM’s (IBM) stock is down almost 10% for the five years. No one got fired there. GM (GM) is down 30% over the period. No new CEO at the big car maker.
At least Pressler got some severance.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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