Apparel giant Gap Inc on Friday announced former president and CEO, Millard "Mickey" Drexler, has resigned from the company's board, effectively immediately, completing his retirement from the retailer.

The San Francisco-based company said in a statement that Drexler wants to focus his full attention on other priorities now that he has retired from the company and the CEO transition is complete.

The company last month surprised the city when it named Walt Disney Co executive Paul Pressler as Drexler’s replacement for the CEO role.

"On behalf of the board, I want to thank Mickey for his many contributions," said Gap founder and chairman Donald Fisher.