Zara owner Inditex names new CEO
Zara owner Inditex has named chief operating officer Carlos Crespo as its new chief executive to spearhead a bigger push into e-commerce.
Crespo will continue in his existing position until his appointment as CEO becomes effective in July, when he will begin taking some of the responsibilities currently held by executive chairman and current CEO Pablo Isla, the company announced.
The appointment of Crespo, who oversaw the integration of Inditex’s online and bricks-and-mortar stores, puts an emphasis on the retail giant’s digital efforts amid changing consumer habits.
Isla said Crespo’s contribution to the company in this new role will be vital “at a time marked by Inditex’s strategic digital transformation and far-reaching commitment to sustainability”.
Isla, who until now has held the positions of both chairman and CEO, will continue to lead the apparel company as executive chair. Crespo will work with Isla to define the overall company strategy, Inditex said.
The new chief joined Inditex in 2001 as the head of accounting policies in the finance department. Going forward, he will be responsible for technology, procurement and sustainability.
“I am very excited to play a role at this important time for the company in which digital transformation and sustainability in all its manifestations represent exciting challenges,” Crespo said.
Last year, Isla announced all products from all Inditex’sbrands will be made available online by 2020, including markets where it does not have any stores.
Other than Zara, the world’s largest clothing retailer also sells the brands Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Uterque across its network of almost 7,500 physical shops. It also operates online in 49 markets.
Isla also said all of the group’s brands will be adopting an integrated stock management system by 2020 in all the countries where there is a physical store presence.