The board of directors of San Francisco-based retailer Gap Inc. has named Art Peck as the next Chief Executive Officer (CEO) starting from February 1, 2015. According to the company, his predecessor Glenn Murphy has made the personal decision to retire from Gap Inc. at the end of the fiscal year, allowing for a smooth and seamless leadership transition.

Art Peck joined GAP Inc. in 2005 as executive vice president of strategy and operations, launching the company’s first franchise business. From 2008 to 2011, he worked as head of the outlet business for Gap and Banana Republic, opening the very first outlet stores of both brands in Canada and Europe. Peck also served as president of Gap North America from February 2011 to November 2012. The newly-appointed CEO has been presiding over the growth, innovation and digital division of the company since end of 2012. His duties encompass creating the company’s omni-channel and digital strategies, and guiding the 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 Art Peck will join the Board, effective February 1, 2015.

Gap Inc. products are currently available for purchase in more than 90 countries worldwide through about 3,200 company-operated stores, almost 400 franchise shops, and e-commerce sites.