Gap expands company's board

Gap Inc announced its company's board will expand from 10 to 11 members with the appointment

of Katherine Tsang. Tsang is Chairperson for Greater China at Standard Chartered PLC, a leading international bank.

“Katherine’s successful track record leading and growing a multinational business in China’s flourishing consumer market makes her a tremendous resource to our board as we embark on a new phase of international expansion,” said Glenn Murphy, Gap Inc. Chairman and CEO. “She will also bring a unique dimension to our board as one of the top women executives in China.”

Ms. Tsang, 53, is a leading executive at Standard Chartered PLC, an international bank with more than $430 billion in assets, headquartered in the United Kingdom with the majority of its operations in Asia, Africa and the Middle East. With over 30 years of professional experience, she is currently Chairperson for Greater China, spanning China, Hong Kong and Taiwan. Prior to this position, she was the company’s Executive Vice Chairman and CEO for China. Under her leadership, Standard Chartered PLC has seen unprecedented growth and financial performance in China including a twelve-fold increase in operations.

“I’m excited by the opportunity to join Gap Inc. especially now as it prepares to open its doors in China,” said Ms. Tsang. “I hope to be able to contribute to the long-term success and shareholder value of the company.”

Ms. Tsang continued: "On a personal note, having spent a great deal of time in North America, I deeply admire the company's brands, cultural relevance and commitment to social responsibility. It will be my honor to contribute in some way to building upon the legacy of the company's founders, Doris and Don Fisher.”