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Madrid (AFP) – Marta Ortega, the daughter of Spanish multi-billionaire Amancio Ortega, who made her fortune through the Inditex apparel empire, was appointed chairman of the group on Tuesday, the company said in a statement on Tuesday as the owner of the Zara brand.
“On the initiative of Inditex’s Board of Directors, its Chairman Pablo Ila and its Founder Amancio Ortega (…), Marta Ortega approved the appointment of Perez as Chairman of the Board,” the statement said.
Marta Ortega will replace Pablo Islam, who was appointed head of Inditex in 2011 by Amancio Ortega. The company states that the appointment of Marta Ortega will take effect “from April 1, 2022”.
Meanwhile, the board has appointed Oscar Garcia Masiras, general secretary of the textile companies, as the company’s CEO. The meeting underlined the “immediate effect” in the press release.
Marta Ortega was born on January 10, 1984, into a union between Amancio Ortega and his second wife, Flora Perez, and has appeared regularly in recent years with the founder of Inditex, where he has held several positions since 2007.
In a rare interview with the Wall Street Journal in August 2021, he said, “I will always be where the company needs me to be,” which has led to speculation about his future within the group.
“I have been living this profession since my childhood and have learned from all the best professionals I have worked with for the past 15 years,” Marta Ortega underlined in a press release issued on Tuesday.
“I will always say that I will dedicate my life to cultivating my parents’ heritage, looking to the future, learning the lessons of the past and serving the company, our partners and our customers,” he adds.
Inditex, which brings together eight ready-made clothing brands including Zara, Stradivarius, Pershka and Massimo Tutti, is the world’s leading budget fashion group over Swedish H&M. Currently, more than 6,500 stores across five continents are located along the busiest shopping routes.
© 2021 AFP
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