Filling the Gap

Paul Pressler, chairman of Walt Disney Co.'s global theme park and resorts division, has been named president and ceo of Gap Inc. (San Francisco). He replaces Millard “Mickey” Drexler, who had announced in May that he would retire as soon as a replacement was hired.

Pressler was given much credit for the growth, brand development and operations of Disney's theme parks in California, Florida, Paris and Tokyo, as well as developing a new park in Hong Kong. His division at Disney, which generated revenues of more than $6 billion, also includes more than 22 hotels, two cruise ships and Walt Disney Imagineering.

Prior to joining the theme-park division, the 15-year Disney veteran was president of the entertainment company's stores division, a three-year period during which time the number of stores increased from 160 to 335.

Pressler “knows how to lead creative, customer-focused organizations and manage and grow complex businesses both in the United States and internationally,” said Gap founder and chairman Donald Fisher, commenting on Pressler's lack of fashion retailing experience.