El Corte Inglés appoints Gastón Bottazzini as CEO

What: El Corte Inglés has appointed Gastón Bottazzini as the new CEO, reinstating the position that has been vacant since 2022.

Why it is important: The appointment of a new CEO signifies a strategic move to enhance leadership and drive transformation within the company. Bottazzini's experience with Falabella is expected to bring valuable insights and strategies to El Corte Inglés, aiming to strengthen its market position and operational efficiency.

El Corte Inglés has reinstated the CEO position with the appointment of Gastón Bottazzini, former CEO of Falabella. Bottazzini joined El Corte Inglés earlier this year as an advisor and will now oversee the work of the two general directors, José María Folache and Santiago Bau. The executive committee, including Marta Álvarez Guil, will monitor his performance. This leadership change comes as the company reported a 5.4% increase in turnover to EUR 16,333 million and a significant rise in recurring net profit by 73.7% to EUR 359 million for the 2023-2024 financial year.