After years of taking a back seat, Zara’s founding family is firmly back in control of the Inditex clothing empire.
The world’s biggest fashion retailer by sales announced a surprise board shake-up Tuesday. Executive Chairman Pablo Isla will step down at the end of March 2022 in favor of billionaire founder Amancio Ortega’s daughter Marta Ortega Pérez, who will take over as chairwoman. Óscar García Maceiras, a lawyer who joined Inditex from Spanish bank Banco Santander eight months ago, is becoming the new chief executive officer.
