Inditex to Promote New CEO

Inditex (Arteixo, Spain), the parent company of fast fashion retailer Zara (Arteixo), is promoting current COO Carlos Crespo to CEO, according to the Financial Times.

With the new promotion, Crespo will take over some of the responsibilities currently held by the executive chairman, Pablo Isla. As CEO, Crespo will be responsible for technology, logistics, IT security, construction, legal and sustainability, while Isla will oversee business strategy, according to Retail Drive.

Inditex is the owner of eight subsidiary brands, including Zara, with 7,490 stores worldwide. Inditex’s online sales grew 27 percent in 2018, according to the Financial Times.