The World'S Top Clothing Giant Zara Founder Abdicated.
Amancio Ortega
It is the president and founder of Inditex group, the world's No. 1 garment giant, and owns Zara and other famous brands.
According to a statement in January 10th, the richest man in Spain wanted to deliver group management to Vice President Pablo Isla.
Amancio Ortega, 74, was originally a small business owner in northwestern Spain.
In 1979, there were six shops.
But today, he is in charge of the world's largest clothing Empire and has more than 4000 stores throughout the world.
According to the latest Forbes list, he is the richest man in Spain, ranking in the world.
The ninth millionaire
。
The group's statement quoted Amancio Ortega in a letter, saying, "the time is ripe to recommend Pablo Isla as president of the group, and I will remain in the company and the board of directors".
Pablo Isla, 46, is the former president of Altadis group, France's Spanish joint venture.
Pablo Isla
It will take over Amancio Ortega to take over Inditex group.
The statement said that Amancio Ortega "will recommend the appointment of Pablo Isla as president of the group at the shareholders' meeting in July."
The Group recorded a profit growth of more than 40% in the first nine months of 2010. Meanwhile, the company grew rapidly and the number of new stores opened to more than 100.
Besides Zara, Inditex also owns many brands such as Massimo Dutti, Pull and Bear, Bershka and so on.
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