Zara-owner Inditex to elevate Carlos Crespo to CEO role

Inditex's Executive Chairman and CEO, Pablo Isla, has proposed the appointment of Carlos Crespo, currently Chief Operating Officer (COO), as the group's new Chief Executive Officer (CEO). The company said that his appointment will take effect following approval by the board of directors, once appointed director by the annual general meeting (AGM), to be scheduled in July. The company's shareholders will also be asked to re-elect Pablo Isla as executive chairman at the AGM.

In a statement on the company’s website, Isla said that Crespo has been doing excellent work in several areas of the company in his capacity as COO and his contribution will be vital at a time marked by Inditex’s strategic digital transformation and far-reaching commitment to sustainability.

Carlos Crespo to takes over chief executive role at Inditex

In his new position as CEO, reporting to Isla, the company added, Crespo will be responsible for areas including technology (systems, data & digital), IT security, logistics and transportation, construction & works, legal, procurement and sustainability, in addition, to working with Isla to define the overall business strategy.

"I am very excited to play a role at this important time for the company", said Crespo, adding, "in which digital transformation and sustainability in all its manifestations represent exciting challenges where innovation, entrepreneurial spirit and teamwork are prerequisites. Fortunately these are the hallmarks of our corporate culture.”

Crespo began his career in auditing, joining Inditex in 2001 as the head of accounting policies in the finance department. After moving on to head up the administrative management of inventories at the group's logistics platforms, in 2005 he assumed responsibility as internal audit director, until 2018, when he was named chief operations officer, a position he will continue to hold until his appointment as CEO becomes definitive in July.

Picture credit:Carlos Crespo via Inditex