(Filed Under Financial and General Interest News). Gap Inc. announced Tuesday that Marka Hansen is stepping down from her position as president of Gap North America this Friday.

Glenn Murphy, chairman and C.E.O of Gap Inc., described the company’s new direction, which has steered toward international growth over the past year, as a catalyst for Hansen’s resignation. “After several conversations, Marka and I agreed this was the right time for a change in the organization in order to take Gap brand to a new level. I am grateful for all that Marka has contributed to the company,” he said in a statement.

Hansen began her employment with Gap Inc. in 1987 as a Banana Republic merchant. The company appointed her president of Banana Republic in 2003, followed by Gap North America in 2007.

The company said it will announce an internal successor to Hansen within the next day.

Gap Inc. operates approximately 3,100 wholly-owned stores, 175 franchise stores and e-commerce sites in about 90 countries.

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Published 02-01-2011 by Amanda Torres Price