Carlos Crespo, new Inditex CEO

Inditex appoints new CEO. Appointing commission of the Spanish fashion distribution giant has proposed Carlos Crespo for the position. Crespo was already appointed responsible for operation last year, when he was put in charge of sistems, logistics, and transport areas, as well as purchase, sustainability, hiring and works departments.

According to what the company has communicated to the Spanish Comisión Nacional del Mercado de Valores (Cnmv), the appointment still needs the approval in the next shareholder meeting and the management board. The appointment will be effective on next July.

The company has highlighted through an statement that the executive’s path within the group and his responsibility in charge of the operations’ general direction anticipated this appointment naturally.

Crespo entered Inditex in 2001 as responsible for countable policies on the financial administration department

The body has also decided to submit to approval the increasing of the management board to eleven councilors. The appointment commission proposes Crespo to occupy one of the two brand new chairs within the board. On the other hand, the selection process of a new independent director has already started.

On the other hand, the next management board will also mean the reelection of Pablo Isla as executive president. Crespo will continue reporting to Isla.

Isla has highlighted that counting with Crespo’s support will be very relevant in the current “strategical digital transformation moment of the company and its sustainability commitment”.  

From his new position as CEO, Crespo will be responsible for sistems, logistics, and transport areas, as well as purchase, sustainability, hiring and works departments, and will define, alongwith the executive president, the global strategy of the company.

Inditex closed 2018 with a global billing of 26,145 million euros, a 3% more than previous year. At constant exchange rates, group’s sales progressed a 7%. The net result was positioned in 3,444 million euros, a 2% more.

The new CEO will define alongwith Pablo Isla Inditex’s global strategy

The executive has stated being “too excited of being able to participate in this moment, where the digital transformation as sustainability are challenges for which development are key the innovation, teamwork and entrepreneur spirit, intrinsic aspects for our company’s culture”.

Inditex closed 2018 with a global billing of 26,145 million euros, a 3% more than previous year. At constant exchange rates, group’s sales progressed a 7%. The net result was positioned in 3,444 million euros, a 2% more.