El Corte Inglés Leadership Shift: Cristina Álvarez Takes Over Presidency from Sister Marta

El Corte Inglés opens a new stage in its governance. The board of directors has unanimously endorsed Marta Álvarez’s proposal to appoint her sister, Cristina Álvarez, as the new president of the group as of January 15th, 2026, according to a statement issued by the Spanish company. The changeover will take place in a framework that the group defines as “orderly, stable and of continuity”.

During the board meeting, Cristina Álvarez thanked her sister for the “magnificent work” she has done over the last six years and assured that she will carry out her duties defending the interests of shareholders, employees and customers. Marta Álvarez, who leaves the presidency by personal decision, will continue as a member of the board and the Monitoring Committee, focusing her activity on the strategic management of own brands, fashion and home.

In her letter to shareholders, Marta Álvarez stated that, after more than six years as president and following the recent appointment of a first line executive, she considers that it is time to open a new phase. According to the board of directors, the progress achieved allows the department store company to face the future with guarantees, with the customer at the center and relying on the work of the organization as a whole.

El Corte Inglés is currently immersed in the process of renewing its top management

The change in the presidency comes just a few weeks after another important move in the group’s management. At the end of October, El Corte Inglés reshuffled its management structure following the departure of Gastón Bottazzini as CEO, eliminating this figure and appointing Santiago Bau as the new CEO with immediate effect.

Until then corporate and financial general manager, Bau retains responsibility for these areas and assumes decision-making power over all the group’s businesses. At the same time, Rafael Díaz Yeregui was appointed general secretary with the rank of general manager, also taking responsibility for legal counsel, sustainability and human resources. In addition, the board appointed Álvaro Parrón as director of the real estate area, replacing Javier Catena.

With this reorganization, both Díaz and Bau once again reported to the board of directors’ Monitoring Committee, chaired at the time by Marta Álvarez and made up of Cristina Álvarez and José Ramón de Hoces as members.

In the first half of the year, El Corte Inglés achieved an overall volume of revenues of €8.21 billion, with like-for-like sales of €7 billion, 1.6% more than the previous year. The ebitda reached €539 million, 3.8% higher than in the same period of the previous year. Net profit rose 10.3% to €224 million, while net financial debt fell to €1.73 billion.