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Zara owner Inditex appoints new CEO in drive for digital growth
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Zara owner Inditex splits off CEO role, Isla stays in charge
The world's biggest clothing retailer Inditex said on Thursday it would split its current dual role of chief executive and chairman, leaving Pablo Isla leading the company as chairman and appointing COO Carlos Crespo as the new CEO. The appointment reflected the importance of technology at Inditex, a company source said, given the owner of Zara, Massimo Dutti and Bershka is seeking to integrate online sales with its store network by focusing on large stores where customers might try on items to buy later online. Although Inditex is seen by investors as one of the best-performing apparel retailers, its earnings growth has come under pressure as it faces increasing competition and as online retailing makes shoppers more savvy trawling for bargains.
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Zara owner Inditex appoints new CEO in drive for digital growth
Zara owner Inditex said it would split its dual role of chief executive and chairman, leaving Pablo Isla to lead the company and appointing Carlos Crespo as new CEO in a sign of the importance of digital strategy in driving sales growth. The appointment reflected the key role of technology at Inditex, a company source said, given the retailer's push to integrate online sales with its store network by focusing on large stores where customers might try on items to buy later online. Although Inditex is seen by investors as one of the best-performing apparel retailers, its earnings growth has come under pressure as it faces increasing competition and as online retailing makes shoppers more savvy trawling for bargains.
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