Empresas Marta Ortega will replace Pablo Isla in the presidency of Inditex
Q&A Marta Ortega's challenges to succeed Pablo Isla at the head of Inditex
When
Inditex
hired the
Korn Ferry
headhunting firm at the end of 2004
, it tasked it with finding a chief executive capable of doubling the size of the group in the next five years and of redefining the company's strategy to make it a global giant.
I also wanted a managerial profile, preferably Spanish, young and with some experience in the world of distribution.
The man chosen was
Pablo Isla
.
Thus ended several months of rumors and uncertainties in the bosom of the giant
Amancio Ortega
, little given to airing the internal issues of his empire, and culminating in the process another profound transformation of its leadership.
Isla was
41 years old at the time
and already had a solid professional career forged as a state attorney, within the public company and also in the banking sector, where he was part of the defunct
Banco Popular.
However, his main endorsement at that time was
Altadis
, the Spanish-French tobacco group that he presided over since July 2000, taking over from César Alierta.
At the time of his arrival at Inditex, this newspaper titled:
"Pablo Isla quits tobacco to dedicate himself to fashion"
, and it was true, but there was much more.
During the 17 years that Inditex has been at the helm of fashion, fashion has been the necessary excuse for one of the most studied and praised business transformations in economic circles and business schools around the world.
"There are few cases comparable to yours. It has been a model transition," acknowledges an analyst consulted by
EL MUNDO
.
A revolution.
20 years in the bag
Its first challenges were to increase the number of establishments in the group to 4,000, as well as to expand throughout Asia and the United States; it also had to redesign manufacturing policy and analyze increased production in Asia. And not only did it meet all these objectives, but it has managed to position the Inditex group as one of the leading names in the fashion universe and beyond.
Last May, it was two decades since its presence on the Ibex 35 and the date made it necessary to take stock of its journey.
With the ringing of the bell in 2001, the company had a turnover of 2,600 million euros and its market capitalization was around 10,000 million euros;
It was present in 33 markets, had five brands and just over 1,000 stores.
Today the
number of establishments has multiplied by six
, adds three more brands and is present in 96 markets with a turnover that exceeds 20,000 million a year.
Its market value is around
87,000 million euros
this Tuesday
.
Isla's hand in all this process is unquestionable for markets, analysts, investors and economists who are now wondering about the reasons for his departure and about his next destination.
Regarding the first, there are those who do not rule out that it has been an agreed and partly voluntary process, since the still president of Inditex has long been demanding more time for his personal and family life. Regarding the second, Isla himself has preferred not to give clues. "These four months I will be fully focused on making this transition a reality, on culminating it, which for me is something absolutely decisive and very important, for the company and for all the people who are part of it. And then, we'll see, for now I will be totally focused on making this transition a reality, "he answered questions from journalists.
"I will be focused on making the transition, which represents the culmination of my commitment to Inditex and Amancio Ortega," he added, before highlighting that the company is a company "much more of teams than of individual people."
He says it, who has left his own name linked to the history of the giant of Arteixo.
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Know more
economy
Inditex Group
Marta Ortega
Companies
Amancio Ortega Gaona
EmpresasInditex falls almost 4% in the stock market after announcing the replacement in the dome and the departure of Pablo Isla
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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