Gap Inc. world headquarters offices are based in the San Francisco Bay Area and their product design offices are located primarily in New York City, San Francisco and London. They also have offices around the globe to support our store management, distribution and product manufacturing operations Gap Inc. operates more than 3,100 stores worldwide. They have stores throughout the United States, as well as in Canada, the United Kingdom, France, Ireland and Japan. They employ more than 150,000 employees around the world.
Gap Inc. was founded in 1969 on the principle of conducting business in a responsible, honest and ethical manner. Today, Gap Inc. remains committed to meeting the highest standards of business conduct. Nothing less will do. We make this commitment to our shareholders, customers, neighbors and each other not only out of legal obligation, but because it's the right thing to do. Gap Inc.'s success depends on a reputation for integrity and quality in everything we do. We all make an important contribution to the Company's reputation. As we look to the future, each of us is responsible for helping ensure that we continue to meet the standards that have made Gap Inc. a leader.
On September 26, 2002, Gap Inc. announced that Paul Pressler, 15-year veteran of The Walt Disney Company and Chairman of its global theme park and resorts division, had been named President and Chief Executive Officer of the company. Mr. Pressler succeeded outgoing CEO Millard Drexler, who had announced in May his plans to retire as soon as his replacement was hired. Earlier that month, Gary Muto, former president of Banana Republic division, was appointed the president of the gap division of Gap Inc. They were both faced with the inevitable task of developing an effective differentiating enterprise-wide strategy if Gap was to survive and prosper against aggressive competition over the intermediate and long term future.