Athleta, owned by Gap, has appointed Maggie Gauger, a former Nike executive, as its new CEO. Gauger replaces Chris Blakeslee and aims to revamp the brand’s strategy after declining sales. This move is seen as a win for Athleta but a loss for Nike, which has been focusing on growing its women’s business. Nike’s CEO change last fall emphasized the importance of the women’s market, a key growth area for athletic apparel brands. Gauger’s appointment at Athleta marks a significant shift in leadership for both companies.

Read more at CNBC: Nike loses head of North America women’s business to Athleta