El Corte Inglés Appoints Gastón Bottazzini as New CEO
El Corte Inglés, the renowned Spanish department store group, has announced the re-introduction of the role of chief executive officer, which has been vacant since Víctor del Pozo’s departure in 2022. The board of directors has put forward Gastón Bottazzini, the former CEO of Latin American retail giant Falabella, as the nominee for the position. The appointment will be proposed at the shareholder meeting scheduled for this Friday.
Bottazzini joined the Spanish group earlier this year as an advisor to the presidency held by Marta Álvarez. He also served on the executive committee, assisting in the transformation of the holding company. In the absence of del Pozo, the business has been led by two general directors, José María Folache and Santiago Bau, overseeing retail and finance, respectively.
Reported by El Confidencial, Bottazzini will supervise the operations of the two general directors who will continue in their roles. The executive committee, including Marta Álvarez Guil, José Ramón de Hoces, and Javier Rodríguez Arias Ambrosini, will oversee the performance of the new CEO.
At the upcoming annual shareholder meeting, El Corte Inglés will present and seek approval for its financial results for the fiscal year 2023-2024, ending on February 29. The company achieved a turnover of €16.333 billion, marking a 5.4% increase from the previous year. Recurring net profit soared by 73.7% to €359 million, with the company’s net profit reaching €480 million.