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Inditex confirms the re-election of Amancio Ortega as director until the age of 91

Date: April 19, 2024 Time: 03:30:22

Inditex has resolved today its General Shareholders’ Meeting, the second chaired by Marta Ortega and which has been held without the presence of her father and founder of the company, Amancio Ortega, absent from it. Ortega has defended the results achieved in the previous year, the first complete with her at the helm of the company, which ended up being the best in the history of the Galician multinational.

The top executive was the first to take the floor to launch a plea in defense of the work carried out by the company: “In a world in which competition is growing, we must fight to maintain our common successes”, she assured, after thanking the work carried out by the staff, suppliers and other key players in the supply chain of the textile giant.

Without revealing specific details, it has promised that in the near future it will develop its commercial and logistics capacity, incorporating the necessary technology for its future projects and supporting its teams. “We feel the responsibility to make our company a little better every day,” he claimed. Ortega also revealed that Inditex will implement new objectives in terms of sustainability to “reinforce the path we have followed since 2001.”

All points approved

Regarding the issues to be discussed in the session, as anticipated by the ‘proxies’, the Meeting has been resolved with the majority support of the shareholders on all points. Among the matters approved, the go-ahead has been given to the re-election of Amancio Ortega as director, a position that he will hold, at least, until he is 91 years old. The independent José Luis Durán Schulz has also been re-elected.

Together with the annual accounts and the board of directors, the shareholders have received a dividend of 1.20 euros per share charged to the results of 2022, divided into two payments of 0.60 euros, one of which was paid on May 2 and the other will be delivered on November 2. This corresponds to a total of 3,740 million euros.

The General Meeting has also given its approval to a new incentive plan for executives, including executive directors. Intended for a maximum of 750 beneficiaries and designed for the next four years, it proposes the payment in cash of a multi-year bonus and the promise of free delivery of shares up to a maximum of 7.5 million, representing 0.24% of the share capital and valued at 250.2 millions of euros.

New sustainability goals

The CEO of the company, Óscar García Maceiras, has been in charge of developing this new sustainability policy that includes a reduction due to the impact of the textile fibers used in the manufacture of its products, so that by 2030 they will all be made with the so-called “preferred fibers”. In addition, 25% of these will come from raw materials developed by Inditex itself, something in which it works with certain start-ups that intend to scale.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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