El Corte Inglès has appointed a new president, Dimas Gimeno. He is a nephew of Isidoro Álvarez, who died a few days ago at the age of 79. Gimeno had been appointed to the new position of chief executive in the middle of last year to pave the way for the generational change at the head of the big Spanish retail group. He was previously in charge of its expansion into Portugal and of the purchasing department. High-level authorities have paid tribute to Álvarez, who worked for the family company from the age of 18. He became president in 1989.

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