“As Sabrina has taken on more responsibility over the years, her deep knowledge of specialty retail, strong financial acumen and personal integrity have earned her the respect of those inside and outside the company,” said Mr. Murphy. “After working closely with Sabrina, it became clear that she has proven herself to be extremely capable and is the right person to partner with me and our business leaders to drive our financial priorities.”

Ms. Simmons, 44, joined Gap Inc. nearly seven years ago as vice president and treasurer. “I’m very pleased to have this opportunity to serve as Gap Inc.’s chief financial officer,” Ms. Simmons said. “Gap Inc. maintains a strong commitment to financial discipline and I look forward to working with Glenn and our business leaders to develop near- and long-term strategies to enhance shareholder value.”

Fiscal 2006 sales were $15.9 billion. The company operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Ireland and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements for Gap and Banana Republic in Asia, Europe, and the Middle East.