![]() ![]() Why now?Īccording to Isla, these changes are the culmination of “a generational handover process that began in 2011 with the replacement of Amancio Ortega as the chairman of Inditex.” Indeed, this move had been predicted, although it came earlier than expected. Isla explained that while this way of sharing executive powers – with Marta Ortega as chair and García Maceiras as CEO – was not yet common in Spain’s corporate world, it is often used by large companies in several European countries, as well as outside of the European Union. “Now is the moment to face the next stage.” They are part of a process within the company,” said Isla at a press conference following the announcement on Tuesday, in which he was accompanied by García Maceiras. ![]() “These changes are very significant for the company and well thought out. In this way, Inditex will return to the dual leadership it was under for six years, when Pablo Isla was CEO and Amancio Ortega was chairman. He will be appointed CEO, a position that he had been considered for since he joined Inditex in March. This side of the business will be run by Óscar García Maceiras, who is currently Inditex’s general secretary and secretary of the board. This formula is aimed at shielding Marta Ortega from too much public exposure. The 37-year-old will become a non-executive chairperson, meaning that while she will be the head of the company and supervise all its operations, she will not be as involved with the daily management of its financial performance. The biggest change announced on Tuesday is the appointment of Marta Ortega as the chair of Inditex, a position she will assume on April 1. The decision to appoint Marta Ortega as chairperson follows Isla’s request to step down from the position, something that was approved by Amancio Ortega.īut why has this move happened now? And what will it mean for the company? Here are the key points behind the changes that have captured the attention of the business world. Isla has also overseen the business’s digital transformation, a move that has helped keep the company afloat during the coronavirus pandemic. The 37-year-old will be taking over from Pablo Isla, who has been in the position for more than a decade and has played a key role in making Inditex one of the leading fashion companies in the world. Starting April 1, Marta Ortega – the daughter of Inditex’s founder Amancio Ortega – will be the new chair of the company, which owns fashion brands such as Zara, Massimo Dutti and Bershka. Inditex, the largest company in Spain’s blue-chip Ibex 35, with a market value of €87 billion, announced sweeping changes to its leadership team on Tuesday. ![]()
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