eBay President and CEO Meg Whitman has decided not to stand for re-election to the Gap's board of directors when her current term expires in May, due to her other professional commitments. Ms. Whitman, 48, has served on Gap Inc.'s board of directors since 2003.

Whitman said, "Given eBay's recent acquisition and international expansion plans, I will need to devote additional time and resources to the eBay business," said Ms. Whitman.

Bob Fisher, chairman of the board for the Gap, said, "Meg's strategic and brand building expertise have made her a valuable asset to Gap Inc.'s board. We will miss her, and on behalf of the board, I'd like to thank Meg for her many contributions over the past two years."