• Empresas Marta Ortega will replace Pablo Isla in the presidency of Inditex

  • Ómicron in the exchanges "The rebound will not take long to arrive and will favor the technological ones"

Investors have not welcomed the change in Inditex's top management.

The giant of the Spanish stock market has left 5,641 million euros after falling 6.1% at the end of the session in which the

replacement of Pablo Isla by Marta Ortega

in the presidency of the company was known.

Ortega will replace Isla, who has led the group for the last 17 years, as of April 1, while

Óscar García Maceiras

, until now General Secretary and Secretary of the Board, has been appointed CEO of the company.

The news was known shortly before the opening of the markets this Tuesday and the reaction was not expected in the form of decreases that at the close have placed Inditex shares at

27.8 euros.

The capitalization of the company stands at

86,830 million euros

, far from the 92,471 million the day before, although despite today's losses it remains the highest of the entire Ibex 35.

The change at the top of the textile empire created by Amancio Ortega has taken the markets by surprise. As reported by the company in a statement to the

National Securities Market Commission (CNMV)

, the board of directors of Inditex, at the initiative of its president Pablo Isla and its founder Amancio Ortega, and upon a proposal from the Appointments Committee, has approved the appointment of Marta Ortega Pérez as president of the group, as proprietary director, in an appointment that will be effective as of April 1, 2022.

"I want to thank the board, and especially Amancio Ortega, for the

support and trust

placed in me during all these years. Now we believe that it is time to approach this new stage, with Marta Ortega as president and Óscar García Maceiras as CEO. , whose appointment was already anticipated since joining the company due to his capacity and qualities. Making this transition a reality is the culmination of my commitment to Inditex and Amancio Ortega ", said Isla, who has also thanked" all and each of the people who are part of Inditex for their work and dedication ".

José Arnau Sierra

, for his part, remains vice president of the board of directors.

With this change, the board of directors culminates the generational change process that began in 2011 with the replacement of Amancio Ortega as Inditex's presidency.

Isla has been the group's executive president since 2019. He previously held the position of CEO since 2005, and president and CEO since 2011.

Drag the Ibex

Inditex's decline has also been the main drag on the Ibex 35, although not the only one.

The change in the Galician group has added more pressure to the uncertainty and volatility that stock markets around the world are experiencing these days on account of

omicron

, the last detected variant of the coronavirus.

Both factors are pulling the Spanish selective down, so that it has ended up dropping 1.78% and narrowly saving the level of 8,300 points (8,305 integers).

On the positive note, Red Eléctrica (+ 1.16%), Telefónica (0.88%) and Banco Sabadell (+ 0.57%) have led the biggest increases.

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Know more

  • economy

  • Inditex Group

  • Marta Ortega

  • Amancio Ortega Gaona

  • Companies

Companies Pablo Isla, the man behind the Inditex revolution

Marta Ortega will replace Pablo Isla in the presidency of Inditex

EmpresasPablo Isla: "We have been preparing this transition for some time"

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