By Cristina Roca 
 

Zara-owner Inditex (ITX.MC) said Thursday that it is proposing Chief Operating Officer Carlos Crespo as the new chief executive.

The Spanish company's chief executive and chairman, Pablo Isla, proposed Mr. Crespo's nomination to the company's board of directors.

Mr. Crespo will report to Mr. Isla, who will remain executive chairman of Inditex. Mr. Isla's role will be up for re-election at the company's AGM, Inditex said.

Mr. Crespo joined Inditex in 2001. He was named chief operating officer in 2018, and he will continue to hold the role until his promotion becomes effective in July, Inditex said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

May 23, 2019 12:25 ET (16:25 GMT)