Tuesday, August 16

The replacement of Marta Ortega: the heirs cede command to the ‘outsiders’

The four great empires of the fashion industry are family businesses. The Ortegas from Spain (Inditex), the Perssons from Sweden (H&M), the Fisher from the United States (GAP) and Yanai from Japan (Fast Retailing, Uniqlo) move the strings of the sector on a planetary scale. The Japanese textile multinational is the youngest of the four and the only one in which its founder, Tadashi Yanai, still holds all power at 72 years of age. The other two direct rivals of Inditex, GAP and H&M, are already going through the second and third generational change respectively and in both cases they follow the same pattern that Inditex now opts for the new era that starts in April with Marta Ortega at the helm: a non-executive presidency exercised by the heir supported by the executive management of what in the jargon is known as an outsider, a manager from outside the family who carries the weight of the company as CEO or chief executive officer, CEO by his acronym in English, in the case of Coruña, Óscar García Maceiras.

Keep reading….

Reference-www.elperiodico.com

Leave a Reply

Your email address will not be published.