Spanish fashion retailer Industria de Diseño Textil SA (IDEXF.PK) or Inditex announced Tuesday that its Board of Directors appointed Óscar García Maceiras, up to now General Counsel and Secretary of the Board, as Chief Executive Officer with immediate effect.
Further, Marta Ortega Pérez has been appointed as Chairwoman of the Group, as a proprietary director, effective as from April 1, 2022.
Further, José Arnau Sierra remains as Deputy Chairman of the Board of Directors.
With this, the company said its Board completes the generational handover process initiated in 2011 with the replacement of Amancio Ortega as Chairman of Inditex.
The appointments will be presented for ratification at the next Annual General Meeting.
García Maceiras succeeds Carlos Crespo, Chief Executive Officer of the Group since July 2019, who has been appointed Chief Operating Officer (Managing Director of Operations, Sustainable and Digital Transformation) of Inditex.
Ortega Pérez succeeds Pablo Isla, who has been Deputy Chairman and CEO since 2005 and, from 2011, as Executive Chairman. Isla will continue as Executive Chairman until March 31.
Javier Monteoliva, Head of Legal of Inditex and Deputy Secretary of the Board of Directors until now, has been appointed General Counsel and Secretary of the Board.
In Spain, Inditex shares were trading at 28.49 euros, down 4 percent.(DPA)