San Francisco — Art Peck has delivered significant results for Gap Inc. in a variety of brand, strategy and operational roles since joining the company in 2005.
San Francisco — Art Peck, the president of Gap Inc.’s Growth, Innovation and Digital division, has been selected by the board of directors to succeed Glenn Murphy as the company’s next CEO, effective February 1, 2015. Murphy and Peck have worked side-by-side for the better part of a decade as Gap Inc. dramatically improved its financial performance while expanding globally.
Following 7 successful years in his role, Murphy made the personal decision to retire from the company at the end of the fiscal year, allowing for a smooth and seamless leadership transition. Under Murphy’s stewardship, the company acquired new brands and globalized its business by expanding store locations from about 10 to 50 countries, including China.
“Today, Gap Inc. is a formidable global fashion retailer with a strong foundation in place for long term growth, therefore making this an appropriate inflection point for me to pass the baton to a leader who will take our portfolio of brands to even greater heights,” Murphy says.
Peck has delivered significant results for Gap Inc. in a variety of brand, strategy and operational roles since joining the company in 2005. He is currently responsible for creating the company’s omnichannel and digital strategies, and guiding the emerging Athleta, Intermix and Piperlime brands.
As part of the transition, Bob Fisher, who has a 35-year history with the company founded by his parents, will become non-executive chairman of the board, and Peck will join the board, effective February 1, 2015.
Gap Inc. is a leading global retailer under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. For more information, visit www.gapinc.com.
SOURCE: Gap Inc.