Inditex announces board changes as José Arnau Sierra retires; Roberto Cibeira Moreiras to join

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Exterior of Inditex’s headquarters in Arteixo, A Coruña (Spain). Credits: Inditex.

Madrid - Coinciding with the release of its first-quarter 2025 financial results, Spanish fashion multinational Inditex announced the departure of its non-executive vice chairman, José Arnau Sierra, from its board of directors. This decision stems from his retirement from Pontegadea, Amancio Ortega’s holding company.

According to a statement issued by Pontegadea on Wednesday, June 11, 2025, José Arnau Sierra informed the holding company's board of directors of his intention to retire on October 1, 2025. With this decision, Arnau Sierra will step down from his roles as director and vice chairman of Pontegadea Inversiones, where he has served for 24 years. Pontegadea, Amancio Ortega's investment arm, controls 50.01 percent of Inditex’s share capital, supplemented by an additional 9.28 percent managed through Partler Participaciones.

Consequently, Arnau Sierra will also resign from his position as non-executive vice chairman of Inditex. He has held this role as an external proprietary director representing Amancio Ortega since June 2012. His departure from Inditex will take place after the company's next Annual General Meeting, scheduled for July 15, 2025, marking over 13 years in the position.

Despite his formal departure from Pontegadea Inversiones and Inditex, Arnau Sierra, who holds approximately 30,000 shares in Inditex, will continue to advise the Ortega family. He will also maintain his current role as executive vice president of the Amancio Ortega Foundation.

Roberto Cibeira Moreiras to succeed Arnau Sierra

Roberto Cibeira Moreiras, the current chief executive officer of Pontegadea Inversiones, will succeed José Arnau Sierra. Cibeira has been preparing to assume these executive functions, as Arnau Sierra had previously indicated his eventual retirement.

Amancio Ortega’s new key executive at Pontegadea, Roberto Cibeira, holds a degree in Business Administration from the University of Santiago de Compostela and a PDD from IESE. He joined Pontegadea in 2003 as head of international and financial real estate investments for Amancio Ortega’s investment holding company. In 2016, he was promoted to chief executive officer, a position through which he has since held the highest executive responsibilities at Pontegadea. He will now continue these duties independently, in the absence of a new vice chairman.

Inditex’s board of directors will propose Cibeira as a new proprietary director for the multinational at the upcoming Annual General Meeting. This appointment is expected to lead to him taking José Arnau’s place on the board, representing Amancio Ortega, and likely also assuming the position of non-executive vice chairman of Inditex. Given that Arnau Sierra held this vice chairman role since his appointment as an external proprietary director in June 2012, it is anticipated that Cibeira's entry onto the board as a proprietary director for Amancio Ortega will result in him occupying the vice chairman position on Inditex’s board of directors.

This article was translated to English using an AI tool.

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