El Corte Inglés reinstates CEO position, appoints Gastón Bottazzini

By

Eva Gracia Morales

Translated by
Roberta HERRERA

Published
Jul 26, 2024

El Corte Inglés, the prominent Spanish department store group, has reintroduced the role of chief executive officer, vacant since Víctor del Pozo's departure in 2022. The board of directors has nominated Gastón Bottazzini, formerly the CEO of Latin American retail giant Falabella, for the position. The appointment will be proposed at the shareholder meeting this Friday.

Bottazzini joined the Spanish group earlier this year as an advisor to the presidency, held by Marta Álvarez, and to the executive committee, tasked with aiding the transformation of the holding company. Since the departure of del Pozo, the business has been led by two general directors: José María Folache overseeing retail and Santiago Bau in charge of finance.

As reported by El Confidencial, Bottazzini will oversee the operations of the two general directors, who will retain their roles. The executive committee, comprising Marta Álvarez Guil, José Ramón de Hoces, and Javier Rodríguez Arias Ambrosini, will monitor the new CEO’s performance.

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At its annual shareholder meeting this Friday, El Corte Inglés will approve its financial results for the fiscal year 2023-2024, which ended on February 29. The company reported a turnover of €16.333 billion, up 5.4% from the previous year. Recurring net profit surged by 73.7% to €359 million, while the company's net profit stood at €480 million.