Apparel giant Gap Inc on Thursday announced the appointment of Paul Pressler, a veteran of The Walt Disney Company and chairman of its global theme park and resorts division, as its new president and CEO.

The San Francisco-based company said the 46-year-old, who has worked at Disney since 1987, will succeed CEO Millard Drexler who in May announced plans to retire as soon as his replacement was found.

Gap chairman and founder Donald Fisher said: "We conducted a comprehensive search for new leadership and were compelled by Paul's track record and depth of experience in marketing one of the world's most beloved brands.

"Paul knows how to lead creative, customer-focused organisations and manage and grow complex businesses both in the United States and internationally."

"We are incredibly pleased with the outcome of our search and are greatly looking forward to having Paul lead the company."

Commenting on his appointment, Mr Pressler said: "I am honoured to have the opportunity to lead the many talented people at Gap Inc. Together, we will continue the great legacy of the Gap, Old Navy and Banana Republic brands, while creating a new and exciting vision of the future."

In his role as chairman of Disney's world-renowned theme parks and resorts, Mr Pressler oversaw its six US-based theme parks in California and Florida, and four international sites in Paris and Tokyo, as well as the development of its 11th theme park in Hong Kong.