Marta Ortega will be the new president of Inditex after the resignation of Pablo Isla

By: MRT Desk

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Marta Ortega will be the new president of Inditex after the resignation of Pablo Isla

MADRID, Nov 30 (Reuters) -Spanish retail fashion distribution giant Inditex said on Tuesday that Marta Ortega, the daughter of its founder Amancio Ortega, will assume the presidency of the group in April, in the last step of a handover. generational started a decade ago to which the change of the CEO has also been added.

Ortega will replace Pablo Isla in the position, who in turn in 2011 took over the presidency of the Galician founder of the company, Amancio Ortega. Isla had been vice president since 2005, according to the company.

Isla’s resignation will take effect on March 31, 2022, date from which Ortega will take office.

Óscar García Maceiras, who had been appointed General Secretary and Secretary of the Board of Inditex in March, will second Marta Ortega as the group’s new CEO, replacing Carlos Crespo, who took office two years ago.

Crespo will continue in the group as its chief of operations.

Marta Ortega, 37, who is also one of the group’s main shareholders, has worked for the company in different areas for the last 15 years.

“I have always said that I would dedicate my life to developing my parents’ legacy, looking to the future but learning from the past and serving the Company, our shareholders and our clients,” Ortega said in a statement.

Amancio Ortega still owns 52.3% of Inditex, the largest Spanish listed company, while Sandra Ortega, daughter of her first marriage, is the second largest shareholder in the group with 5.05%, according to official data from the National Commission of the Stock Market.

(Report by Inti Landauro; editing by Louise Heavens and Jason Neely; translation by Darío Fernández)

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