Gap Inc. on Wednesday announced that it's appointed Mattel executive Richard Dickson to become its next CEO.

Dickson, the chief operating officer at Mattel, will replace interim CEO Bob Martin on Aug. 22. He will be tasked with overseeing the global portfolio that includes Old Navy, Gap, Banana Republic and Athleta.&nbsp;

"Richard has invaluable expertise in areas critical to the work Gap Inc. is doing to strengthen the company for the long term," lead independent director Mayo A. Shattuck III said.&nbsp;

<i>This is a developing story. Check back for updates.&nbsp;</i>

Gap, the global retailer whose portfolio includes Old Navy, Gap, Banana Republic and Athleta, announced a new CEO who will replace Bob Martin in August.{ai:summary}<p>Gap Inc. has appointed Mattel executive Richard Dickson as its next CEO. Dickson, currently the chief operating officer at Mattel, will take over on Aug. 22 and will be responsible for overseeing Gap Inc.'s global brands. #economy</p>

Gap names Mattel executive Richard Dickson as new CEO

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