Management shake-up continues
Zara parent Inditex will recommend Pablo Isla Álvarez de Tejera as the new chief executive officer to the board. Isla was previously chairman of the Altadis Group, a key player in the southern European convenience store market, but more widely known for its dominance of the cigar market.

If appointed he will replace José Maria Castellano, who will remain as deputy chairman of the group.

The nomination committee at Inditex, which supports Isla's appointment, said: 'The future inclusion of Isla represents a step forward in the design and reorganisation of the management team of Inditex, which, is at present, a major concern of the board of directors. Those changes aim to strengthen and adjust the management structure of the group, with a new generation of managers that will face up to the future growth plans.'

Inditex has followed a strategy of fast growth across Europe, doubling its store portfolio since 2001 to 2,200. The latest manifestation of this in the UK was the introduction of the Bershka fascia into the country late last year.

At the same time, it has undergone a fundamental management restructure, with the departure of group managing director Juan Carlos Rodriguez Cebrian announced last February.

In April, the company recorded a like-for-like sales increase of 9 per cent for the last financial year.