Amancio Ortega will continue as a director of Inditex

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The general meeting of Inditex shareholders is expected to approve today the re-election of Amancio Ortega Gaona, founder of the textile empire and main owner, as a member of the board of directors. The appointments committee of the multinational considers that his permanence in the position "contributes to consolidating the process of generational change, promoted by himself and personified in the current director" and president of the company, his daughter Marta Ortega, who assumed the position in April 2022. Amancio Ortega of Inditex shares) was re-elected at the 2019 shareholders meeting for a period of four years. The mandate expires in 2023 and the appointments committee believes it is appropriate for him to continue as a proprietary director for another four years due to the knowledge and value that he brings.

In this sense, he highlights that since July 2019 he has attended 97% of the board of directors meetings (29) and that his contributions in the debate and decision-making “become the best possible advice.” . He also maintains Job Function Email Database That his presence on the board contributes to the existence of "counterweights to mitigate possible risks associated with the concentration of powers that could exist in the hands of the chief executive" of the company. The board will vote today to reduce the members of the governing body to ten The shareholders' meeting is also scheduled to vote on Tuesday to reduce the governing body from eleven to ten members following the departure of Emilio Saracho.



The board is completed, in addition to Marta Ortega and Amancio Ortega, by José Arnau Sierra, Óscar García Maceiras (CEO), Flora Pérez (wife of Amancio Ortega), Denise Patricia Kingsmill, Pilar López Álvarez, Anne Lange, José Luis Durán Schulz, and Rodrigo Echenique Gordillo. An incentive plan for executives is also expected to be approved. Last year Inditex broke its sales and profits record, with revenues of 32,569 million euros (17.5% more than in 2021), and profits of 4,130 million. His progress does not stop there, and in the first quarter of this year he once again pulverized his brand, with profits of 1,168 million euros, 54% more than in the same period of 2022. These good results have boosted the price of the textile empire, with a revaluation of 46% in the last year and one of the largest capitalizations of the Ibex (106,932 million euros.