2023-08-28 21:50:14
Six years after leaving the presidency of Inditex, Amancio Ortega has decided to do so at his own foundation as well. In a brief statement, the Amancio Ortega Foundation has communicated that the businessman leaves the presidency of the non-profit entity, although it will continue to be linked to it because “it will continue to form part of the Board of Trustees”.
Flora Perez Marcoteuntil now vice-president of the Foundation and wife of the Galician businessman, will be the new president. “Since the establishment of the Foundation in 2001, Flora Pérez Marcote has carried out intense work related to the implementation and development of its programs, mainly in the social area, as well as the institutional representation of the entity”, they point out from the organization.
Marta Ortega, president of Inditex and daughter of the greatest fortune in Spain, will replace his mother in the position of vice president at the proposal of the Board of Trustees of the Foundation, of which it has been a member since 2015. The Board of Trustees of the Amancio Ortega Foundation is made up of the family of the founder and senior managers of Inditex, including Pablo Isla, CEO of the textile group between 2005 and 2021, Roberto Cibeiradelegate councilor of Pontegadea, the patrimonialist company of Ortega, the Jose Arnau Sierraone of the businessman’s trusted men.
Projects of the Amancio Ortega Foundation
Related news
The Amancio Ortega Foundation born in 2001, coinciding with the IPO of Inditex and the reorganization of the entire fortune of the textile businessman, including the constitution of Pontegadea. The entity has two lines of work, education and social welfare. The first grants, for example, scholarships to high school students who want to study in the United States and Canada, while the second invests in social and health infrastructures, such as the National Proton Therapy Plan in the Spanish public health system or the network of Centers Comprehensive Care for the Elderly in Galicia, which accounts for most of the budget.
In 2022, the institution allocated 52.8 million euros to social investment in its own projects and financing to other institutions. Between 2018 and 2022 it has executed 437.7 million in all its projects and expects mobilize 487.8 million more between 2023 and 2027, 443.6 will be contributed by Amancio Ortega himself. The largest item is the socio-sanitary infrastructure, which will require a disbursement of more than 386 million euros.
#Amancio #Ortegas #wife #lead #businessmans #foundation