Pablo Isla leaves Altadis

John Gallagher

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Spanish-French tobacco supplier Altadis co-president Pablo Isla leaves Altadis

Altadis co-president Pablo Isla is moving to Spanish textile firm Inditex, which owns the Zara fashion house.

Cigar division chief operating officer Antonio Vazquez will replace Isla as co-president. Vazquez was recently confirmed by Altadis as one of three main board directors of Spanish travel retailer Aldeasa, following the successful takeover bid from Retail Airport Finance, a 50/50 joint venture between Autogrill and Altadis.

Altadis' 2005 first quarter profits reached €114m ($148m), an increase of 4% on the same period in 2004. Turnover rose by 9.71% to €885.1m ($1.15bn). The results were slightly below analysts' projections but the company said that full year projections would compare positively with 2004.