Inditex founder’s daughter to turn into chairwoman, CEO stepping apart By Reuters


© Reuters. Pablo Isla, Chief Executive Officer of the Spanish group Inditex, is at the start of a press conference to present the company’s 2011 results on March 21, 2012 in Madrid. REUTERS / Sergio Perez / File Photo


MADRID (Reuters) – Spanish fashion retailer giant Inditex (MC 🙂 said on Tuesday that Marta Ortega, the founder’s daughter, will take over the chairmanship of the group with a new CEO in April, as the last step in a generation change that began a decade ago.

She takes over from Pablo Isla, who in 2011 took over as chairman from her father Amancio Ortega, the richest man in Spain. Isla has been deputy chairman since 2005, the company said.

Oscar Garcia Maceiras, who became General Counsel and Secretary to the Company’s Board of Directors in March, will support Marta Ortega as CEO and replace Carlos Crespo, who took office two years ago.

Crespo remains Chief Operating Officer.

Marta Ortega, 37, has worked for the company in various areas for 15 years.

“I’ve always said that I would dedicate my life to my parents’ legacy, look to the future, but learn from the past and serve the company, our shareholders and our customers,” she said in a statement.

Amancio Ortega still owns 59.29% of Inditex, the largest publicly traded Spanish company, while Sandra Ortega, a daughter by first marriage, is the second largest shareholder with 5.05%, according to refinitive data.

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media or any other person involved in Fusion Media assumes no liability for any loss or damage that may arise from reliance on the information contained on this website, including data, prices, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

You might also like

Leave A Reply

Your email address will not be published.