Inditex has announced a management reshuffle, appointing a new Chief Financial Officer (CFO) and Chief Sustainability Officer (CSO). The company did not provide specific reasons for these changes. Ignacio Fernandez Fernandez, the current CFO, will transition to the newly created role of Chief Corporate Officer, overseeing finance, sustainability, logistics, transport, and infrastructure.
Andres Sanchez Iglesias, currently the Chief Tax Officer, will step into the role of CFO. According to Citigroup analyst Monique Pollard, the appointments may be aimed at enhancing oversight as Inditex expands its logistics capabilities. Inditex is in the second year of a significant logistics investment plan, allocating 1.8 billion euros to increase capacity, including a hub in Zaragoza, Spain.
Javier Losada Montero, the current CSO, will depart after 32 years with the company. Fernando de Bunes Ibarra, the current head of corporate risk management, will take over as the new CSO.
