Zara owner Inditex to promote Carlos Crespo to CEO

Fashion retailer Zara’s parent company Inditex has said it will promote its current COO, Carlos Crespo, to the role of CEO as it bids to boost its “strategic digital transformation”.

The appointment was put forward by Inditex’s chief executive, Pablo Isla, and will take effect following approval by the board of directors at the company’s AGM in July. Inditex sais Crespo’s track record within the group and his responsibilities as COO made this promotion the “natural next step”.

In his new position as CEO, he will report directly to Isla and will be responsible for the technology (systems, data and digital), IT security, logistics and transportation, construction and works, legal, procurement and sustainability areas of the business. In addition, he will work with Isla to define the company’s overall business strategy.

Crespo said: “I am very excited to play a role at this important time for the company in which digital transformation and sustainability in all its manifestations represent exciting challenges where innovation, entrepreneurial spirit and teamwork are prerequisites. Fortunately these are the hallmarks of our corporate culture.”

Crespo began his career in auditing, joining Inditex in 2001 as the head of accounting policies in the finance department, before assuming responsibility as internal audit director in 2005, until 2018, when he was named COO.

Last year Inditex announced plans for all its stores to be fully digital, integrated with the online platform and sustainable by 2020.

To achieve its targets for 2020, the Group has been executing a store streamlining plan since 2012, which has paved the way for the technological upgrade of 90% of the store network, marked by 3,364 store openings, 3,383 refurbishments and extensions and the absorption of 1,400 smaller-sized units in the last six years.