Gap commits to Old Navy split; CEO exit won't impact holiday shopping season

(Reuters) - Gap Inc said on Friday it was sticking with plans to spin off its Old Navy brand into a separate company, as Wall Street analysts questioned its commitment to the project following the surprise exit of Chief Executive Officer Art Peck.Gap shares fell 5.5% on Friday after Thursday's shock announcement, which came along with another weak batch of forecasts for quarterly sales and full-year earnings.The abrupt change in leadership comes just before the year's main holiday shopping..