Gap Inc CEO Syngal to step down; shares drop

(Reuters) -Gap Inc said on Monday Chief Executive Officer Sonia Syngal would step down.

Current Executive Chairman Bob Martin will serve as interim CEO, effective immediately, the apparel maker said.

Shares of the company fell about 3% to $8.50 in extended trading, after it also forecast second-quarter revenue would decline in the high-single-digit range.

It expects adjusted operating margin percentage to be zero to slightly negative.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath)

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