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Zara’s Chairman Has Stepped Down

By , the Cut’s financial-advice columnist.  In addition to “My Two Cents,” she writes about work and parenting for the site. Previously, she was the senior features editor at Harper's Bazaar and a senior editor at the Cut. She was also the editorial director for MM.LaFleur. Her work has also been published in Glamour, Art in America, Politico, and other places.

Amancio Ortega, age 75, retired today after the company’s annual meeting. He founded Zara in 1975 and is now the richest man in Spain, owning over 5,000 stores in 78 different countries. [Daily Mail UK]

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Zara’s Chairman Has Stepped Down