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yesterday

José María Castellano, Inditex’s First CEO Who Led Its 2001 IPO, Dies at 78

A rare public tribute from Amancio Ortega underscores the executive’s central role in the group’s rise.

Image
José María Castellano.
José María Castellano y Amancio Ortega, en una imagen de archivo.
Castellano, durante una comparecencia en el Parlamento gallego

Overview

  • Amancio Ortega issued an uncommon public statement calling Castellano an essential figure in Inditex and saying he will hold a special place in the company’s heart.
  • Castellano joined Inditex in 1984, sat on its board from 1985, and served as vice president and consejero delegado from 1997 to 2005, steering early international expansion and the 2001 listing.
  • He left the company in 2005 following disagreements with Ortega, ending a long partnership that had shaped the retailer’s professionalization and growth.
  • Beyond Inditex, he chaired ONO from 2008 until its 2014 sale to Vodafone and led Novagalicia Banco from 2011 to 2014 through Spain’s banking restructuring before its sale by the FROB to Banesco.
  • In recent years he was non‑executive chairman and roughly 6% shareholder of Greenalia, served on boards including Bimba y Lola, Puig and Esprit, and maintained an academic career as a catedrático and member of the economic academy.