Gymboree names Gap executive as new CEO

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 January 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.

(Reporting by Nivedita Bhattacharjee in Chicago; Editing by Tim Dobbyn)