Inditex chief receives €10m pay packet

Pablo Isla, chairman and CEO of Inditex, received a pay packet of €10m last year on the back of record results, its annual report reveals.

Spanish group Inditex, which owns Zara, Massimo Dutti, Bershka and Pull & Bear among others, is the world's largest retailer and posted a 12% rise in sales to €23.3m in the year ending 31 January. Last year the group opened 279 new stores taking its store count to around 7,300 in 92 markets.

Isla's package comprised €3.2m in salary and almost €7m in remuneration linked to targets, reports The Times. However his package was down €2m on the prior year.

Amancio Ortega, the founder of Inditex and one of the world's richest men, said to be worth $84bn, was paid €100,000. However it was previously reported that he would receive €1.26bn in dividends.