Glenn Murphy is the new CEO and chairman of GAP

Apparel company GAP has announced that they are now appointing Glenn Murphy to serve as chairman and chief executive officer.

The company has been struggling in the recent times as they face intense competition in the market.

Murphy would be taking over from Robert J. Fisher who has been serving as the interim CEO of the company since January this year.

Murphy comes to GAP with more than 20 years of experience in retail and he is likely to assume his new position from next week.

He said in a statement that he would be acquiring 150,000 shares of Gap common stock.

He had been serving as the chairman and CEO of the Shoppers Drug Mart in Canada for the last six years.