MARTA Ortega, the daughter of the founder of Spanish fashion retailer, Inditex, will become the company’s chairwoman next April.
Ortega, 37, will replace Pablo Isla, who took the managerial reins from her father, Armancio Ortega in 2011.
Forbes magazine says Armancio Ortega is the 11th richest man in the world with a net worth of 77 billion US dollars, which easily makes him the wealthiest man in Spain.
Marta has been Inditex deputy chairwoman since 2005 and has worked across different parts of the organisation.
She has long been ‘groomed’ to take up the Inditex top role.
In a statement, Marta Ortega, said: “I have always said that I would dedicate my life to building upon my parents’ legacy, looking to the future but learning from the past and serving the company, our shareholders and our customers.”
Her father owns 59.29% of Inditex, the largest listed Spanish company, while Sandra Ortega, a daughter from his first marriage, is the second largest shareholder with a 5.05% and is the second-richest person in Spain.
Inditex trades under brands like Zara, Massimo Dutti, Bershka and Stradivarius across Spain, as well as in key markets like the UK, France, and Germany.
The company has recently closed some of its stores in Spain as the trend moves towards more online shopping.
Nevertheless, Inditex will open its biggest-ever outlet next year across four floors of Madrid’s recently-renovated Edificio España on the capital’s Gran Via.