![]() ![]() Isla said: ‘These changes that we are announcing today are very well thought out changes, which are part of a process within the company and we understand that now is the right time to address this new stage.’ ![]() Isla, however, was buoyant during the video news conference to shareholders, saying that it was the right time to make the change as the company had a solid position, with sales in the second quarter of the year tipping over the levels achieved in pre-pandemic 2019. Shares in the company dropped by 5.8% on the day of the announcement this week.Īnalysts were wary of the appointment, with many saying that the move was ‘too soon’ and that there was ‘a lot to prove’ with the new role. If share price is any pointer to how analysts think she will fair, however, it was disappointing news for Ortega. There is already speculation in the sector that she will struggle at the top, but her background and passion for the company should stand her in good stead to achieve continued success for the group and silence the concerned commentators. Moving into the role will put her firmly in the spotlight of the fashion industry. The announcement of Ortega’s appointment was made by Isla this week, as he addressed shareholders at the annual general meeting of Inditex and explained more about the new leadership structure that is to be in place from next spring.Ĭritics are already commenting on the huge task ahead for the 37-year-old Ortega, who has worked for the company for the last 15 years.īut the determined Ortega will be taking on the role with a passion and enthusiasm that may silence these critics, who are questioning whether it is too soon for the ambitious daughter of its founder to take on the role. Its annual sales are over 20 billion euros. Ortega is also the daughter of the founder of Inditex, Amancio Ortega, who stepped down as chair in 2011, after amassing a fortune from the clothing empire that makes him the richest man in Spain.įounded by Ortega in 1975 in La Coruña, in the northwestern region of Galicia, today the Inditex group comprises of globally recognised fashion brands including Zara, Bershka, Stradavarius, Pull and Bear, Oysho and Massimo Dutti. Next April, the business and fashion worlds will be watching with close interest as Marta Ortega Pérez takes over from Pablo Isla as chair of Inditex, Spain’s biggest and most well-known listed company. ![]()
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