Ernesto Ortega, the founder of world famous fashion group Inditex SA, has appointed his daughter Marta as CEO to spearhead expansion into new markets and accelerate growth in Spain.
Marta Ortega, 41, will also serve as Executive Vice President and report to CEO and president Pablo Isla. She will be responsible for managing and managing the businesses in Spain, overseeing the accounting and financial reporting, and strategic direction of the operating companies.
Inditex operates the Zara brand as well as 20 brands, including Massimo Dutti, Pull & Bear, Oysho, Bershka, Stradivarius, Asos, Oysho, Gigi and Levi’s.
Ernesto Ortega and his first wife Aleixandra founded the global fashion giant in 1975.
Marta said: “This is a tremendously exciting and exhilarating time for me. My dad has given me the support and vision to take Inditex to its next stage of development. I look forward to growing the Zara brand internationally and continuing to reinvent the brand for our customers and the industry.”
Ernesto Ortega said: “Marta has been a key member of my team for more than a decade. She has made enormous progress as a team player over this time period, having become a key member of the operating teams and management teams. I am confident that she will continue to develop the strategy that we have established and look forward to Zara’s relentless growth across the world.”
Marta will move to the group’s head office in Barcelona from February 1 2019 and lead operations in Spain. She will continue to be active within her roles as Deputy Chairman of Inditex.
Ernesto Ortega is the world’s richest man with an estimated net worth of $77 billion, according to Forbes.
One of the most respected and successful fashion entrepreneurs, he built a retail empire that now commands 13 per cent of the retail market globally and also owns a 20 per cent stake in Spanish football club FC Barcelona.