Head of Gap brand out, outlet executive in line: source

NEW YORK/SAN FRANCISCO Tue Feb 1, 2011 6:42pm EST

A shopper walks down Fifth Avenue carrying a Gap shopping bag in New York, October 8, 2009. REUTERS/Lucas Jackson

A shopper walks down Fifth Avenue carrying a Gap shopping bag in New York, October 8, 2009.

Credit: Reuters/Lucas Jackson

NEW YORK/SAN FRANCISCO (Reuters) - Gap Inc will name its top outlet executive Art Peck as the new head of Gap North America as it looks to speed up a flagging turnaround at the apparel brand, a source familiar with the matter told Reuters on Tuesday.

Earlier on Tuesday, Gap announced that longtime Gap brand head Marka Hansen was stepping down and her successor would be named within a day.

Multiple sources inside and outside of the company, who asked not be named, cited Art Peck as the likely candidate to replace Hansen.

A source familiar with the matter confirmed to Reuters that Peck would be named.

(Reporting by Alexandria Sage; Editing by Bernard Orr)