GAP (GPS) CEO: Fired For Outperforming Market
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…
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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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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
