Inditex SA Names Insider To Chief Executive Post


To head up the fast-fashion company’s online shopping push, Inditex SA is reportedly elevating Carlos Crespo to the position of chief executive officer. Crespo currently serves as the chief operating officer at the retailer and will report to Pablo Isla, who is the company’s executive chairman and stepping back from the chief executive role, Bloomberg reported.

The new chief executive will have the responsibility for procurement, sustainability and technology. According to a statement from the company, the appointment will take effect upon the board of directors’ approval. The retailer said in its statement that “Carlos Crespo’s track record within the Group and his responsibilities as COO made this promotion the natural next step.” At the same time, the company noted that its shareholders will be asked to have Isla serve as executive chairman again.

Isla said, according to the statement, “what makes Inditex a great company is the commitment and hard work of all the people in the business.” Isla noted that Crespo has done excellent work and his contribution comes “at a time marked by Inditex’s strategic digital transformation and far-reaching commitment to sustainability.”

The news comes after it was reported last year that Inditex had announced that it will sell products from all of its brands on the web. Isla said at the time, “We want to make our fashion collections available to all of our customers, wherever they are in the world,” Isla continued, “Even in those markets which do not currently have our brick-and-mortar stores.”

The full online catalog was said to be operational by 2020. In addition, the company had noted that it would be bringing in-store pickup of online orders to all 96 countries in which it operates brick-and-mortar stores. Beyond its best-known Zara brand, Inditex is the power behind Bershka, Stradivarius, Oysho, Uterqüe, behind Pull&Bear and Massimo Dutti.



The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.