July 27 (Reuters) - Gap Inc has turned to
Richard Dickson, credited with turning around the Barbie brand
at Mattel, to lead the struggling retailer's revamp
efforts after years of inconsistent sales and profits.
    The exit of Art Peck in 2019 after nearly four years as CEO
in the middle of a restructuring plan to split Old Navy and its
namesake brand weighed on the company's fortunes.
    Here is a timeline of the major problems at the company:
    
 Date           Events
 Nov. 7, 2019   CEO Art Peck marks surprise exit in the
                middle of a restructuring and Robert Fisher,
                a member of the founding family behind Gap,
                was named interim CEO
 Nov. 21, 2019              Reiterates plan to separate Old
                Navy from the namesake brand that has been
                underperforming for a long time
 Jan. 16, 2020  Gap scraps plan to spin off Old Navy and
                instead aims to work to stem dropping sales
 March 5, 2020              Names Old Navy head Sonia Syngal
                as its new CEO replacing interim chief Robert
                Fisher who stepped down as chairman of Gap's
                board
 March 12,      Gap flags a $100 million sales hit in Asia
 2020           and Europe from the coronavirus, which also
                impacts its home market
 March 18,      Gap closes stores for two weeks to stem the
 2020           spread of the novel coronavirus
 March 26,      The company withdraws annual forecast,
 2020           suspends its dividend and draws down on its
                entire $500 million credit facility to
                weather the coronavirus crisis
 April 23,      Gap warns it may not have enough funds to run
 2020           its operations in the next 12 months and says
                would need to cut costs and raise money by
                issuing debt.
 June 4, 2020               Reports a quarterly loss of
                nearly $1 billion 
 June 26, 2020  Gap enters into a 10-year deal with rapper
                and fashion designer Ye, or Kanye West, to
                create a Yeezy line of clothing
 Oct. 21, 2020  The company considers closing stores in some
                European countries, as it looks to save cash
                while dealing with a sales slump brought on
                by the pandemic and competition from
                fast-fashion companies
 June 30, 2021  Gap in talks with its partners to sell its
                stores in Italy and France
 July 11, 2022  Gap's CEO Sonia Syngal to step down just over
                two years into the role, as it wrestles with
                weak demand for its casual attire and a slump
                in its stock price
 Aug. 25,2022   An inventory glut and weak sales of outdated
                clothes prompt Gap to withdraw annual
                forecasts
 Sept. 15,      Kanye West's lawyers sends a letter to Gap
 2022           notifying that the rapper and fashion
                designer was terminating his partnership 
 Sept. 20,      Gap eliminates about 500 corporate jobs 
 2022           
 April 27,      The company cuts about 1,800 jobs in a second
 2023           round of layoffs
 July 26, 2023  Gap names Mattel's chief operating officer,
                Richard Dickson, as top boss after a
                year-long search
 
 (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Sriraj Kalluvila)