Shake-up at Zara owner Inditex catches market by surprise

📆 01-12-21 00:03:00
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Inditex stock plunges as founder’s daughter, Marta Ortega, named chair and CEO to be replaced after just two years

Inditex announced a surprise overhaul of its top management by elevating the founder’s daughter and appointing a new CEO after just two years.

“Although this transition phase seemed to have been prepared internally, the departure of Pablo Isla may leave a great void in the near term,” wrote Cedric Rossi, an analyst at Bryan Garnier. Ortega is also less publicity-shy than her reclusive father, hobnobbing in glitzy social circles and showing up at big fashion events across the world.

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