Inditex’s share price started to decline after the appointment news.
Other Among other things, the daughter of the founder of Inditex, which owns Zara, has been raised to chair the company.
The Spanish company Indetex is one of the largest clothing groups in the world. The Group owns several well-known clothing brands.
Starting as the company’s new chairman of the board Marta Ortegaa in the previous position Pablo Isla, who has been Chairman of the Board since 2011.
Following the election of Marta Ortega, the value of Inditex’s shares began to decline. At 4.30 pm Finnish time, the share price fell by more than 5.6 per cent.
Marta Ortega’s parents Amancio Ortega and Rosalia Mera founded Inditex in Spain in 1975. Amancio Ortega is listed by Forbes as one of the richest men in the world. He served as Chairman of the Board until 2011.
There was a long queue in front of the Zara store on Friday, November 27, when Black Friday discount day was celebrated.
Marta Ortega, 37, has been with Indetex for 15 years. He has progressed to his current position as an assistant. Marta Ortega tells the BBC that he has always said he devotes his life to continuing the inheritance of his parents.
In addition to Zara, Inditex owns the Bershka, Pull & Bear and Stradivarius chains, among others. The Group has more than 6,600 stores worldwide.
Inditex also announced on Tuesday that it will appoint a new CEO Óscar García Maceirasin.
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