The daughter also rises
MARTA Ortega Perez is not the only Spanish businesswoman to rise to the top of her father’s company in recent years.
Banker Ana Botin (pictured) was appointed executive chairman of lender Santander in 2014 – succeeding her father Emilio after he died.
Emilio Botin had in turn taken over from his own father, Emilio, in 1986.
Leaders passing the baton to family members is not uncommon. In the UK, retail tycoon Mike Ashley is set to hand over to his future son-in-law.
Frasers Group, which includes Sports Direct, House of Fraser and Evans Cycles, will be taken over in May by Michael Murray, his daughter Anna’s fiance. Independent shareholders have put a black mark against Murray before he even starts as he is in line for a £100m bonus if shares hit a certain price. Murray, 31, will be one of the youngest bosses in the FTSE 250. Inditex rival H&M is also family-run, having been founded in 1947 by Erling Persson before his son Stefan joined in 1972 and succeeded him in 1998. Billionaire Stefan, now 74, spent more than 20 years as chairman until his son Karl-Johan, who was chief executive between 2009 and 2020, took over. Chief executive and chairman of luxury goods maker LVMH Bernard Arnault, 72, owns the biggest stake in the company and a voting majority. Four of his five children are involved with the group, and daughter Delphine, 46, has been tipped as his successor.