MADRID (AP) — The daughter of the founder of Spanish clothing company Inditex, which owns Zara, Massimo Dutti and other fashion chains, has been named as the company's next chairperson. woman, the company said Tuesday.
Inditex’s board of directors named Marta Ortega to replace Pablo Isla, who has led the company since founder Amancio Ortega stepped down as chairman in 2011. The board also named Óscar García as Inditex's new CEO.
Marta Ortega, 37, is slated to start April 1 as chairwoman of the company her father founded in 1963 in northwest Spain before turning it into an international leader in retail fashion. Her and García's appointments must be ratified at an annual shareholders' meeting.
“I have lived and breathed this company since my childhood, and I have learned from all the great professionals I have worked with over the last 15 years,” Marta Ortega said. “I’m deeply honored by the trust that has been placed in me, and enormously excited about the future that we are all about to embark upon together.”
Besides its flagship Zara stores, Inditex also owns the Massimo Dutti, Pull & Bear, Bershka, Oysho and Stradivarius fashion chains.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
