Richard Dickson, the president and chief operating officer at Mattel, known for revitalizing the Barbie franchise, has been recruited by the apparel giant Gap.
According to a statement issued by Gap, Richard Dickson will leave his position at the toymaker on August 3 and assume the role of Gap’s new CEO on August 22.
Mattel informed its staff about Dickson’s departure on July 27, just days after the “Barbie” movie achieved a remarkable $155 million in revenue in the last three days, making it the biggest film debut of the year so far.
Having served at Mattel for at least two decades, Dickson has received praise for reinvigorating the company’s iconic brands, including Barbie, Hot Wheels, and Fisher-Price, as stated in Gap’s announcement.
Gap has been on the lookout for a new CEO since its former CEO Sonia Syngal left the company in July 2022. Dickson will be taking over the position left vacant by Syngal.
In the interim, Gap’s chairman Bob Martin had been serving as the CEO. However, during a May earnings call, Martin informed investors that he did not expect to remain the interim CEO for as long as he did.
In a statement, Dickson expressed excitement about working with Gap’s teams to evolve the company for a new era under Bobby’s leadership. He sees the opportunity to build on the new foundation established by the team for long-term success.
Dickson, a graduate of UCLA, joined Mattel in 2000 and oversaw the global brand portfolio, including strategy, brand marketing, design, and development. He also managed franchise management, licensing, merchandising, live events, and digital gaming.
Ahead of the highly anticipated Barbie movie release, the 55-year-old struck licensing agreements with more than 100 brands, including Gap, to sell a range of Barbie-themed merchandise, turning the iconic pink doll into a ubiquitous brand.
Dickson’s arrival at Gap comes at a challenging time for the company, which is struggling to resize its business and win back customers. The garment company has experienced a prolonged sales decline and has seen a series of leadership changes across its portfolio of brands: Athleta, Banana Republic, Old Navy, and its namesake banner.
To streamline operations and reduce costs, Gap laid off over 2,000 workers in April.
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