Art Peck is stepping down as CEO of Gap

After a nearly 15-year career at Gap, CEO Art Peck is stepping down. Peck, who became the chief executive officer in 2015, aimed to help the brand regain relevance.

Robert J. Fisher, a member of the family that founded the company and the current non-executive chairman of Gap’s board, will serve as interim president and CEO. Bobby Martin, chair of the board’s compensation and management development committee, will serve as lead independent director, the company said in a news release.