Gymboree names Gap executive as new CEO

Tue Jan 8, 2013 1:59pm EST

Jan 8 (Reuters) - Mark Breitbard, president of the Gap Inc's North American division is going to take over as Chief Executive of children's clothes company Gymboree Corp, the children's clothes company said on Tuesday.

Breitbard had taken over responsibility for Gap's domestic performance in October, as a part of a major revamp in the casual clothes retailer's management line up.

Breitbard's appointment at Gymboree is effective Jan. 14, the company said, taking over from interim CEO Kip M. Garcia.

Gymboree was taken private by Bain Capital Partners for $1.8 billion in 2011. Chief Executive Matthew McCauley gave in his resignation in September last year.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.