Inditex Appoints Founder's Daughter as Chairwoman
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 email@example.com;
(END) Dow Jones Newswires
November 30, 2021 02:28 ET (07:28 GMT)
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