What can a Canadian drugstore executive bring to ailing American retail icon The Gap? Investors and shoppers will soon find out now that Gap has named 45-year-old Glenn Murphy its new chairman and CEO. After the disastrous tenure of former chief executive Paul Pressler, who joined the apparel chain from Walt Disney theme parks, Wall Street hoped the clothing giant would recruit a new leader with industry experience to lead Gap out of its fashion malaise.
Instead it picked a drugstore guy … albeit a successful one. After a six-month search, it appears The Gap couldn’t find an apparel industry veteran who wanted the job. According to the New York Times it appears Murphy pitched himself to Gap’s Board, which cited his experience revitalizing major retail brands to support its choice. As there are few major retail brands more in need of juice than The Gap, the company hopes Murphy is up to the job!
Comments
Brenda Says:
July 27th, 2007 at 10:38 am
I like The Gap despite that it can be a little pricey, but you can get really good basics there and they are pretty good quality too. Crossing my fingers this guy knows what he is doing and shop shop shop girlies!
Brenda Says:
July 27th, 2007 at 10:41 am
ps. they do great sales!
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