Art Peck is a prolific businessman as well as the CEO of Gap. Peck took the reigns as CEO after its previous CEO Glenn Murphy stepped down after working in that role for around seven years. There was a great deal of uncertainty in the market when it was announced that Murphy would be stepping down as CEO. However, many investors were optimistic when they heard that Peck would be taking on the role.
Peck’s first venture in higher education led him to achieve a Bachelor of Arts degree in economics. Later on, he achieved his master’s degree in business administration from the prestigious Harvard Business School. Peck’s educational experience helped him to eventually become the CEO of Gap.
It was speculated after Murphy’s departure that whoever took on the role of CEO of Gap would have big shoes to fill. Not only did Art Peck seem like he would meet expectations, but he seemed as if he would exceed them. Peck was responsible for some of the company’s biggest moves in the industry when he only had the role of president of growth, innovation and digital strategy.
In his role as president of growth, innovation, and digital strategy, he oversaw the acquisition of Athleta in 2008. This brand was formerly an online-only clothing brand. He also oversaw the acquisition of Intermix, a very successful women’s boutique chain. This amount of experience also helped lead to Peck becoming the CEO of the company.
In Peck’s initial role as senior vice president of strategy and operations, Art Peck was instrumental in the company’s launching in China. In this endeavor, Peck worked alongside Glenn Murphy, who was also the CEO at that time as well. Peck has also been instrumental in launching various different Gap chain stores in many different countries.
In fact, Peck is one of the biggest reasons that Gap is such a global brand. He was the one to first make the suggestion to sell the company’s products to third-party companies in various worldwide regions. This led to hundreds of franchise-operated Gap stores being operated worldwide.
Art Peck also served as president of Gap’s original brand. During his time in this role, he oversaw consistent quarters of growth for the brand and the company. He also added increased digital functionality to the Gap and Banana Republic stores. One feature that he had added was a way for customers to scan clothing and then get additional wardrobe suggestions.
One big thing that Peck has been a part of since becoming the CEO of Gap is raising the company’s minimum wage to $10. Peck cited that he felt it was the right thing to do. He also felt it would help the company signify that it understands that the roles its sales associates have are changing.
One program that Art Peck was instrumental in launching is Gap’s Product Red campaign. This campaign was set up to help those affected by HIV and AIDS in Africa. This program contributed over 45 million dollars for this cause. Other companies involved with Product Red include Nike and American Express.