The San Francisco-based retailer, Gap Inc., has named Glenn Murphy as the companies new CEO.
DNR reports that the former Canadian drugstore-chain executive is expected to start this week and earn a base salary of $1.5 million. Though Murphy has no fashion experience, he has a history of, “impressive results in reinvigorating retailers and brands.”
The Gap better hope this will fix their woes of late. The retailer has not been doing well the past few seasons, as competition form fast-fashion retailers like Japan’s Uniqlo and Sweden’s H&M increases.
The Gap hired designer Patrick Robinson as executive vice president of design, as we reported earlier.
[Earlier]
Gap Names New CEO [DNR]
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