Inditex's deputy GM Ramón Reñón leaves group
Coinciding with the publication of the Spanish group’s Q1 results, on Wednesday June 9 Inditex informed CNMV (Spain's National Securities Market Commission) of the departure of its deputy general manager, Ramón Reñón, who bid farewell to the textile giant based in Arteixo (A Coruña) after a career spanning almost three decades.
According to Inditex, Reñón has voluntarily resigned from his position as deputy general manager to group president Pablo Isla, motivating his decision by saying he “has completed his professional journey.” Inditex's board of directors, following a favourable report from the group’s appointments committee, has formally approved, among other things, the stated reason for Reñón’s resignation, which will take effect from July 31.
In a brief statement, the Chairman of the Board of Directors, Pablo Isla, expressed the “group’s recognition and thanks to Ramón Reñón, underlining his valuable contribution to the success of [Inditex] in expanding and internationalizing the group". For its part, the board of directors formally expressed its “recognition and sincere thanks” to Reñón, for his “dedication and invaluable work within the group for nearly 30 years,” during which he also served as general manager in charge of expansion.
In the course of Q1, between February and April, Inditex succeeded in taking the first steps on the road to post-pandemic recovery, which is expected to be fully achieved during the second quarter of the year. In Q1, the Galicia-based group recorded a net profit of €421 million and increased its sales by 50%, reaching a revenue of €4.942 billion. Inditex will hold its shareholders’ AGM on July 13.
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