It was not yet dawn when Inditex announced the change to the top of its dome a year ago today (The change will take effect on March 30.). It was half past seven on the morning of November 30 when the multinational sent “privileged information” to the National Securities Market Commission. The deal was made the day before, and although very few were aware of the decision to prevent it from being leaked, it was decided to make the news public before the opening of the trading day. The usual thing with the company is to do this after the markets close, as on October 25th, when it reported that it had reached an initial agreement for the sale of its Russian business to the Daher group.
Communication a year ago had six points. The first reported Board of Directors accepts “resignation” Presented by Pablo Isla as chairman and member of the Board of Directors “in the context of his separation by mutual agreement”. The second was the appointment of Marta Ortega as president. And fourth, the appointment Oscar Garcia Maceiras as executive director and CEO. Since then, there have been changes in the textile group with the aim of keeping everything the same. The strong culture of the company, instilled by the founder since its inception, kept the moves barely noticeable on a day-to-day basis.
Among the unchanging events, economic consequences come to the fore. Last March, the last time Pablo Isla took over the Galician firm, figures for fiscal 2021 were released: 3,243 million profits and 27,716 million sales. In September, already with Marta Ortega and Óscar García Maceiras ahead, Inditex made a historical profit of 1 billion 794 million in the first half, an increase of 41% compared to the same period of the previous year.
Gradually, but not without a break, there were departures and relocations in middle management. It was announced last week that Carlos Crespo, Isla’s trusted man at the multinational, will leave the company at the end of the year. He served as CEO from July 2019 to November 2021. It was learned yesterday that The company is renewing its address in France. They are changes so that everything continues more or less the same and the machine does not stop.
Although everything seems to remain the same, it is not. On the stage of Pablo Isla The goal was based, above all, on economic results: sales, growth, margins, profits… While the new leadership did not overlook this crucial aspect at Arteixo headquarters, both Marta Ortega and Óscar García Maceiras also focused on the workers who made the company what it is today, and the fact that the multinational, though forgotten, is, as it always claimed, a fashion company. Amancio Ortega. “Inditex has always been people first and foremost. People who work with great dedication. “People who never give up, don’t settle down and always seek to improve in everything they do,” Marta Ortega said in her first public statement as chairman of the shareholders’ meeting last July. And about the message that they are a fashion firm in the same action, he recalled that the company “has the constant desire to bring the illusion and beauty of fashion to millions of people around the world.” A mantra she insists on Garcia Maceiras in the same view: “We are a fashion company and as such, we appeal to the emotions of our customers with the creativity, design, quality, sustainability and beauty of our stores.”. He reiterated this in his speech at the Family Business Institute Congress in Cáceres last October. “We want to continue to be a fashion company that appeals to our customers’ emotions and always gives them what they want,” she said.
And as the group moves on with the idea of continuing to change so that everything stays the same, the captain of the ship, Pablo Isla has slowed down for 17 years but did not stop as he admitted in his farewell in March:Honestly, I’m not going to retire.”. Of course, he now has more time, for example, to watch the World Cup or to follow Real Madrid.
He’s only appeared before the public three times in the past year: two of them were photos sent to the media—in parallel with staying out of the spotlight as much as possible—in April to announce he was the new chairman of the board. IE University and this one had just been created in August by production company Fonte Films. The third, already face-to-face, South Summit MadridThe largest Spanish entrepreneurial event held last June.
You can count on both hands how much time Pablo Isla has spent in his 17 years at Inditex., He gave public speeches outside of the presentation of results or shareholders’ general meetings. Therefore, the lyrics took on great importance when he performed outside of the group. At the South Summit, he said, “when the main purpose of a large company is not just to make a profit, but to improve the industry and society in general, innovation comes naturally in practice.” Or what “innovation is a state of mind” and “we shouldn’t be obsessed with success, we should focus on doing things as well as possible. The rest will come.” That’s the driving idea. Inditex before and after Isla.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.