Changes In Inditex’ And Twitter’s Leadership

The whole world is watching the evolution of a new Covid-19 variant that emerged in South Africa, not only increasing uncertainty at a global level but seriously affecting the financial markets due to fears that the coming months may face a new worldwide wave of coronavirus. 

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While it is true that, at the moment, there is not much reliable data regarding this new variant, various countries are already taking measures, such as the cancellation of air connections with the affected countries, due to fears that the existing vaccines will not be able to cope with the new Omicron strain. In a recent interview published in the Financial Times, the CEO of Moderna Stéphane Bancel, has indicated that existing vaccines could be less effective against this new variant, so these could be modified during the next year. 

At the moment, if we focus on the financial markets, we can see that key sectors, such as aviation and tourism, are being greatly penalized in the stock market. The US dollar is also massively affected, since the new variant could pose problems for the plans of the Federal Reserve during the coming months, with the Japanese Yen and the Swiss Franc being the great beneficiaries. 

On the other hand, markets are also focusing on new changes in the direction of giants such as Twitter and Inditex after their respective CEOs announced their departure. During yesterday's session, we learned that Jack Dorsey is leaving his position as CEO on Twitter in favour of Parag Agrawal, with immediate effect following a board meeting. This change in direction was received in the stock markets with a decrease of 2.74%. 

During today's session, we learned that Pablo Isla will likewise leave his position next April, in favour of the daughter of the founder of the group Amancio Ortega. Marta Ortega will assume the command next April, completing the generational change initiated after the departure of her father in 2011. Due to the uncertainty generated around this type of change, after knowing this news, Inditex shares have come to give up around 5% throughout the session. 

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