The latest shareholders meeting at El Corte Inglés has renewed Manuel Pizarro’s directorship and appointed Gastón Bottazzini CEO.
Bottazzini has been serving as executive advisor to the president since February and is the former chief executive of the Chilean department store and retailer Falabella. He was also a partner at McKinsey from 1996 to 2008, specializing in finance and consumer goods in Latin America, the US and Spain. At El Corte Inglés, he will be reporting to the Executive Committee, led by Marta Álvarez and comprising José Ramón de Hoces and Javier Rodríguez-Arias, and to the rest of the board.
José María Folache and Santiago Bau, meanwhile, will be continuing as general managers of retail and corporate affairs, respectively. Both will be reporting to Bottazzini.
Álvarez announced at the meeting that the company had almost completed a five-year plan for 2025–30.
El Corte Inglés generated revenues of €16.3 billion in its latest financial year, ended Feb. 29, for a year-on-year increase of 5.4 percent. Retail’s share of this was 78.6 percent, or €12.8 billion – 3.8 percent more than in FY 2023. Group Ebitda rose 13.6 percent to €1.08 billion.
