O’Donnell Takes Over Top Financial Positions at Gap

The Gap, a clothing retailer based in San Bruno, Calif., has named James V. O’Donnell as executive vice president-finance and chief financial officer. He will continue as executive vice president-operations.

O’Donnell, 48, joined the Gap in 1980 and was named a director last April. Among other jobs, he has held the title of executive vice president-operations for the Gap Stores division.

In his new roles, O’Donnell replaces Alan E. Zimtbaum, 44, senior vice president and chief financial officer, who resigned Dec. 1.

Thomas H. Tashjian, vice president of retail trade for the Seidler Amdec Securities brokerage in Los Angeles, said he was surprised that the Gap brought up someone from the ranks for the financial posts. “I was expecting they would bring somebody in from outside with extraordinary financial expertise,” he said. “That is not his realm.”

However, Tashjian praised O’Donnell as having been instrumental in the recent sales turnaround of the Gap. Analysts say the company’s main problem is that a shift in merchandising at its Banana Republic chain is not producing positive results as quickly as hoped.