Zara parent company CEO bags €10m pay packet

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Inditex CEO

The chief executive and chairman of the world’s largest fashion retail company was paid more than  €10 million (£9.07 million) last year after a year of record results.

According to The Times, Inditex – the Spanish parent company of global high street chains Zara, Bershka, Pull & Bear, Stradivarius and Massimo Dutti – paid Pablo Isla a base salary of €3.2 million (£2.9 million) last year.

The company’s annual report also indicated that on top of Isla’s salary, he received  €7 million (£6.35 million) in remuneration linked to targets.

Despite this, his pay packet last year was less compared to the year before when he was paid €12 million (£10.89 million).

READ MORE:  Inditex sees double-digit sales rise in Q1

Meanwhile, Inditex founder Amancio Ortega – one of the richest men in the world with an estimated worth of $84 billion (£65 billion) – was paid €100,000 last year (£90,787).

The news comes after the company in June announced that net profits rose by 18 per cent to €654 million (£593 million) in the first quarter of 2017.

Inditex also recorded another leap in sales during the first quarter as it continued to expand, opening stores in 30 countries over the same period.

It currently trades in 93 markets around the world.

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