In the ingenious viral world of Twitter, a user summed."Marta Ortega arriving at her first board of directors as president," said the legend.It is true: the temptation to celebrate that the youngest daughter of Amancio Ortega (85 years) is crowned de facto like what was already symbolically strong.In fact, there are fewer women in positions of power in the fashion business (just 14%) than in the aerospace or financial.Therefore, every woman who breaks a roof as fortified as this is lived, even if he does it for inherited merits, like a small triumph.
In theory, Marta Ortega moves a whole textile giant: Inditex is the largest transatlantic world fashion, with 6.654 tiendas en 96 países y ventas en línea en 216 mercados de sus ocho marcas (Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home y Uterqüe).Registered sales by more than 20.400 million euros at the end of January 2021, 144.000 employees and a stock market value that has come to exceed at its best the 100.000 million euros, something like a fifth of the General State Budget by 2021.If we stayed in the headlines, we would also have to celebrate that Marta Ortega, president of Inditex from next May, becomes the only woman at the head of a quoted company (in the Ibex, of course).
The economic analyzes of this appointment will surely stop at the risk that Amancio Ortega and Pablo Isla, their faithful right hand as CEO (2005) and president of Inditex (2011) until today.In fact, it punished this appointment with a fall of about 6% (more than 2.000 million euros): money worries the least, and this movement is greater.However, the prompt recovery of Inditex's stock value shows that, in reality, there is nothing to fear from the succession of a new president.
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The Marta Ortega era is tied and well tied not only by a renewed board of directors (the new CEO, Óscar García Maceiras, is a state lawyer with experience in the banking sector), but by a parallel organ that is added to the control of thatMoney Machine that is Zara: a management committee composed of Inditex managers, 100% Galician and with strong family presence (they are, for example, two brothers from Flora Pérez).
The message to the markets is as follows: no Caesarism, no trace of personalism, will take the company from its first objective that is to grow in benefits and business capacity.A corps guard formed by the corporate elite is already in charge of this.The presidency of Marta Ortega, in fact, is not executive, but enters the Council as 'Sunday Counselor', a figure occupied by the relevant shareholders (Marta goes on to represent 59% Inditex that her father possesses) and that limitsits power to some capacity to make 'lobby' in the councils of companies.
What is undeniable is that this generational transition ensues in a delicate time for Inditex, immersed in a process of thinning in the material terrain (it will close around 1.200 stores in 2021) and expansion in the digital territory, for pure survival in the new pandemic world.Not to mention the big systemic problemile: sustainability and good practices throughout the production chain.
If we stick to the scarce small print of the announcement that has transcended in the press, the emergence of Marta Ortega as a powerful woman of Ibex 35 must be taken with caution: her influence on the future of Inditex is relative and, in any case, infinitely lowerto that of the other two executives who take the reins of companies of the main Spanish stock market index, Ana Patricia Botín Las del Santander and Beatriz Hernández Dancausa, those of Bankinter.We must not stretch any chewing gum.
Some of his statements reveal that his interest has more to do with the creative processes than with the financial."To be honest, I would like to be close to the product, which was what my father always did, I will be where the company needs me the most," he said in his sound interview with 'The Wall Street Journal'.He also admits to having learned from his father the benefits of the delegation: "He was never the best in particular, but he was the best in finding the best person to do everything," he said in a recent interview.
His last known activity has to do with Zara's luxury releases: a collection designed by Charlotte Gainsbourg and the Premium Srpls collection, in addition to orchestrating the campaigns of big names of global creation such as Steven Meisel, Fabien Baron or Luca Guadagnino.Although Marta Ortega wanted to be a discreet heiress (she is already a classic to tell Zara folding t -shirts), after her second marriage to Carlos Torreta, her appearances have intensified in equestrian competitions and fashion parades, so that her position as anotherMillionaire of the global economic elite begins to eclipse your desire to become a creative reference figure for the company.Stripped of the epic of man made to himself who cemented the legend of his father, remains to be seen if Marta Ortega manages to build a narrative at the height or forms with living of the income.What almost all we would like.