Gap Inc Chief Executive Glenn Murphy will retire in February and hand over the reins of the apparel retailer to its digital business head Art Peck, as the company looks to tap customers’ increasing preference for online shopping.
Peck’s appointment comes into effect on 1 Feb., Gap said in a statement.
He will also join the board of the company, which owns fashion brands such as Gap, Banana Republic and Old Navy.
(Source: CNBC)