By Joshua Kirby 

Industria de Diseno Textil SA on Tuesday said Marta Ortega Perez, the daughter of the Spanish fashion group's founder, is set to become its chairwoman.

Ms. Ortega will succeed Pablo Isla Alvarez, executive chairman since 2011, who will resign his position effective March 31, 2022, the company said. Ms. Ortega's father, Amancio Ortega, founded the La Coruna-based company, which owns fashion brands including Zara and Pull & Bear.

The appointment completes the "generational handover" that began in 2011 when Mr. Ortega stepped down as chairman, the company said, adding that the changes will be presented for ratification at the next annual general meeting.

Inditex also appointed a new group chief executive, with Oscar Garcia Maceiras, general counsel and board secretary, succeeding Carlos Crespo Gonzalez. Mr. Crespo becomes group chief operating officer, with a remit covering the digital transformation and sustainability, Inditex said. The changes are effective immediately, the company said.

A new management committee is also being introduced, including Mr. Crespo, group finance chief Ignacio Fernandez Fernandez and executives from the group's larger brands, the company said.


Write to Joshua Kirby at; @joshualeokirby


(END) Dow Jones Newswires

November 30, 2021 02:28 ET (07:28 GMT)

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